Friday
May 12
2017

Report: Leveraging digital to unlock the base of the pyramid market in Africa

The level of formal banking and insurance penetration across Africa remains low due to the fact that consumer spending power for the majority of the population is low and unsteady. This has been seen as a hindrance to providing products and services through traditional distribution models, even though this market represents the majority of spending power in Africa. This represents an opportunity – particularly for products that are tailored to the needs of the low-income segment– that remains largely untapped.

Source: Deloitte (link opens in a new window)

Categories
Financial Inclusion, Technology
Tags
Africa, Base of the Pyramid, digital payments, financial inclusion, financial innovation, financial services, fintech, mobile banking, mobile money