BNPL market set to triple by 2028 to $28.6bn in Africa and the Middle East
Tuesday, 28 November 2023 17:50
The market for Buy Now, Pay Later (BNPL) in Africa & the Middle East is set to nearly triple by 2028, reaching $28.6 billion, up from $9.9 billion in 2022, according to a report by market research firm ResearchAndMarkets.
The latter forecasts an average annual increase of 17.8% in the adoption of this payment method over 2023-2028, driven by the rising penetration of e-commerce in the target regions. The "Africa & Middle East Buy Now Pay Later business and investment opportunities databook," report also expects a 26.6% annual growth in BNPL payments in 2023, reaching $12.6 billion.
The BNPL method provides an attractive alternative to traditional payment methods, allowing customers to make purchases without paying the full amount.
Live News
-
Ethiopia: Business, Finance and Engineering Account for 51% of Job Offers in 2025
10:38
-
Mozambique Deepens Cybersecurity Push with EU Partnership
10:29
-
Global Aid Drops Sharply as Support to Sub-Saharan Africa Falls 26%
10:28
-
Sierra Leone Moves to Revive Sierratel with Private Sector Backing
10:26
-
Nigeria-Ghana Onion Trade Resumes After Diplomatic Intervention Ends Distribution Dispute
09:06
-
Canyon’s CEO Steps Down as Minim Martap Enters Its Final Stretch
04:50
-
After a Decade of Shutdown, Cameroon Considers Reviving Zina-Makary Oil Block
04:41
-
Public Investment Surges 33.7% as Private Spending Declines in Cameroon
04:28
-
Togo plans 304 water points in 2026 in push for universal access
20:50
-
Cameroon Is Drinking More Wine, With Imports Up 37% in 2025
19:59
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...
Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...
Business, finance and engineering generate over half of formal job postings Ethiopia faces persistent mismatch between skills supply and labor...
Bilateral aid to sub-Saharan Africa drops to $29.2 billion in 2025. Total global aid records a historic 23.1% decline in real...
Government signs private partnership to revive Sierratel and restore operations. $2 million upfront payment targets employee arrears out...
Nigeria-Ghana onion trade resumed after dispute over distribution rights Authorities intervened, securing release of seized Nigerian onion...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...
French lawmakers approve colonial-era restitution framework unanimously Law enables returns by decree, replacing case-by-case...