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
-
Cameroon issues inaugural 15-year Treasury bond in CEMAC zone
20:25
-
Cameroon tightens gold controls, revokes non-compliant artisanal mining permits
20:10
-
Algeria secures over $3 billion AfDB financing to extend national rail network
19:55
-
Uganda, Tanzania discuss cross-border rail link to diversify logistics routes
19:38
-
UNESCO backs efforts to safeguard Africa’s oral and written heritage through digitization
19:32
-
Uptooyoo Builds Marketplace for Freelancers and Trades in South Africa
19:17
-
Nigeria Updates Telecoms Regulation to Match Digital Economy Growth
18:56
-
Cameroon launches consultations for tailored special economic zones in five regions
18:45
-
Cameroon pushes common African approach on water and sanitation at AAEA congress
18:05
-
ARCOP opens review of Togo's 2025 public contracts
17:50
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...
The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...
MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...
Financing covers rail extension to El Meniaa and Ghardaïa over about 495 km Project is first phase of trans-Saharan rail corridor linking Algiers to...
Extension of Tanzania’s SGR toward Uganda discussed during Museveni visit Project could link Lake Victoria ferries to rail freight corridors Move...
Project backed by UNESCO secures and digitizes rare West African archives More than 2,100 manuscripts digitized and 4,000 documents...
Nigeria will revise its National Telecommunications Policy of 2000 for the first time in nearly 26 years. The reform will integrate mobile internet,...
Porlahla Festival ends third edition in Kouto, promoting Senufo culture Event draws regional and international participants, boosting cultural...
Essaouira is a coastal city in Morocco, on the Atlantic Ocean, in the Marrakech–Safi region, about two and a half hours by road from Marrakech. It stands...