EBANX’s annual report reveals Africa’s emergence as a frontier for digital commerce, with a projected 25% annual growth rate by 2026, second only to Asia.
Rising markets in Africa, Asia, and Latin America will drive future consumption, with Africa expected to add more to consumer spending than Europe over the next decade.
As digitization reshapes African markets, internet penetration is set to become nearly universal by 2028, presenting immense opportunities for online retail growth.
Additionally, B2B digital payments are gaining traction in Africa, fueled by the proliferation of marketplaces and a growing preference for alternative payment methods (APMs) over traditional card payments.
With B2B transactions growing at a rate of 14% annually through 2027, Africa, Latin America, and Asia are poised to constitute 40% of the total value of global B2B payments made online.
This shows the significance of digital transformation in driving financial inclusion and revolutionizing commerce across emerging markets.
Source: Tech Trends KE
