Solving financial and payment problems for Nigerians is the order of the day right now. The government is making a move from cash to digital and online ePayment. Economic enablement of the 180m+ Nigerian population is top of the agenda.
With oil taking a back seat, and trading, eCommerce and digital empowerment is catalysing this massive and biggest African economy. Financial inclusion means bringing the broader Nigerian population into the...
Nigeria is an exciting mix of the new and the old, cash and digital, educated and less educated, analogue and smartphone. A country in a dynamic state of accelerated evolution, in many ways leapfrogging the developed world. A dynamic place and time to do business.
Drive down a street in Nigeria and you will meet up with people in suits walking past street vendors in rags, steel and glass modern architecture adjacent to rundown old building sites and rub...
Rwanda is experiencing a leapfrog effect in digital commerce and eCommerce payment as a result of strong growth by MNOs. The government and private sector are working closely to grow the digital economy.
Indicative is a recent Dot Finance conference which was attended by almost 500 fintech participants keen to hear about and catalyse the digital economy in Rwanda
At the conference it was said that as a result of mobile payment methods like MTN Mobile...
Nigeria is looking good to be out of recession in the second half of 2017 although this makes absolutely no difference to cross border eCommerce which is experiencing good growth as a result of a number of unrelated complementary economic drivers like bandwidth, financial inclusion, ability to pay, smartphone penetration, propensity to shop online
In the first half of 2017, Nigerian mobile payment volumes increased more than 80% to over $1.3bn, and Web transactions...
The Central Bank of Nigeria (CBN) is in a race to accelerate the move from cash to card and are having success. Formal banking is coming off a low base in countries like Uganda (6%), Tanzania (5%), and Ghana (4%).
Nigeria’s population is now around 180m people, 90m+ have active access to the internet, and up to 60m have formal bank accounts. What a great economy for multinational eCommerce companies to do business with!
In the ...
In Cote d’Ivoire, most school fees are made using mobile money. As opposed to Cote d’Ivoire, Uganda and Kenya have high levels of mobile money penetration but few schools accept mobile money for payment of school fees.
Over time there will be a shift from cash to digital payment and agents will service rural areas more effectively
Fintech is alive and well in Nigeria and companies like Paga, Remita and Flutterwave are reporting high volume...
Nigerians are mad about fashion and have a keen sense of dress which creates a real demand for fashion and clothing based multinational eCommerce companies entering the Nigerian market.
Despite the economic challenges that have faced Nigeria over the past few years, eCommerce has continued to grow at over 30% per annum and retail is at the forefront of this sustained growth.
On a recent visit to Lagos, when you mention Macy’s, ears prick up and consum...
Mobile money as an alternative payment in Kenya has been terminated and Telkom Kenya will be launching a new mobile money service.
Orange Mobile Money only reached just over $1m in transaction values in the first quarter of of 2017 of the $11bn transacted across all mobile money platforms in the same period, of which $8bn of mobile money transacting was done through M-Pesa alone.
Telkom Kenya was bought out by Helios the pan-African investment group and hav...
Africa’s GDP growth seems to have slowed to 2%+ but this needs to be looked at in context of the heavyweight economies like South Africa and Nigeria which have gone through a period of shrinkage. Having said all of that, we are mainly interested in the growth of the digital economies in Nigeria, Kenya and South Africa - the eCommerce and digital hubs of Sub-Saharan Africa.
These three digital economies are powering ahead and experiencing unprecendented ...
Nigeria with 180m people is the biggest consumer economy in Africa and thanks largely to Naspers has become an eCommerce powerhouse. There are eCommerce unicorns backed by global investment companies like Goldman Sachs and wealthy private families. These are long term investors who see the value in the Nigerian digital economy into the future.
Growth in Nigerian GDP is expected to be around 5%, and the digital sector is guaranteed to grow at a mu...
