As Africa continues its growth trajectory and foreign investors – financial services organisations and others – seek new investment opportunities across the continent, Africa’s payment systems are becoming an increasingly important topic.
At KPMG, we are focussed on helping both private and public organisations respond to the transformation now underway across Africa’s payments landscape. That is why we have developed this series on payment developments in Africa. We believe that, by sharing our insights and knowledge, we can help drive Africa’s payments journey.
In our first edition of Payment Developments in Africa, we offered a forward-looking perspective on the payment challenges facing Africa’s markets. We also examined the ‘silent revolution’ now underway across Africa’s financial services sector and looked at how Africa’s Financial Technology (FinTech) companies are helping markets leapfrog the legacy challenges faced in other parts of the world.
In this edition, we take a closer look at many of these trends and discuss how they are impacting the payment sector. This report kicks off with a profiling of Ghana and Tanzania. We then go on to explore how the payment sector is evolving at a regional level with WAEMU (West African Economic Monetary Union). We then review latest FinTech trends, investment numbers and emerging technologies.
This report also includes our viewpoint on one of the biggest challenges facing Africa’s payment sector: financial inclusion. In ‘Bridging the Great Divide’, we explore the evolving role of digital innovators and regulators as markets move towards greater financial inclusion.
We believe this report provides financial institutions, regulators, investors and consumers with deep insight into current trends and challenges in Africa’s payments sector. With insights based on KPMG’s broad regional and local experience, extensive knowledge and understanding of payment reforms, strategy and innovation in Africa, we hope this edition of Payment Developments in Africa delivers new ideas and catalyses further change in
Africa’s payment markets.
To learn more about the issues raised in this report – or to discuss the unique challenges facing your organisation – we encourage you to contact your local KPMG member firm or any of the contacts listed at on this page.
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