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
-
Nigeria’s FCMB-TLG Fund Gets SEC Approval for Series II ESG Debt Offering
17:25
-
Government Mobilises FCFA 51.8bn to Modernise CDC Plants in Drive to Slash Imports and Boost Value
17:10
-
Benin Secures €306.9M to Upgrade Key Trade Corridor With Togo
16:59
-
Burkina Faso Secures BOAD’s $35.7 Million for Road to Mali
16:24
-
Ghana Bans Forest Mining, but Enforcement Remains Uncertain
16:13
-
Cameroon’s Sonamines shortlists firms for Sikoum limestone geophysical study
17:08
-
Afriland First Bank Cameroon adds second deputy CEO, appoints Ayissi Hervé
16:19
-
Douala–N’Djamena corridor plans CFA11.12 billion rail budget for 2026
15:30
-
Smart Zambia Launches Digital Skills Program Across Government
13:57
-
Mohammed Benchaa Centralizes Workplace Learning With Somu Raqami
13:54
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
Fruitful partners with Elsewedy unit to launch processing project in Egypt New facility wil...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Fitch upgrades Côte d’Ivoire to BB, saying political uncertainty has lifted and the country has mo...
Islamic Development Bank funds €306.9 million Benin-Togo corridor road upgrade Project modernises key Cotonou-Lomé trade route, easing...
BOAD approves $35.7 million to upgrade Burkina Faso–Mali border road Project targets 130 km, boosting regional trade and transport links Road...
Ghana bans mining in forest reserves, reversing 2022 law Civil groups welcome repeal but urge strong enforcement, legal amendments Concerns persist...
In Africa, the transformation of food systems has become an urgent issue in the face of rapid population growth and major challenges such as climate...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...