Driving financial inclusion: exploring the BFSI landscape in Africa

Everything you need to know about Africa’s banking, finance and insurance space. Discover how communications technology can help drive financial inclusion with our comprehensive eBook.

Everything you need to know about Africa’s banking, finance and insurance sector

Discover how Africa’s BFSI industry is driving financial inclusion with communications technology in this comprehensive eBook. With a population of 1.460 billion, Africa is the world’s second-most populous continent, boasting the lowest median age at 19.7 years old.

And while more than 50% of people on the continent are still unbanked, the industry’s rapid growth is indicative of the abundant opportunities in the sector.

267%

is the growth of BFSI sector between 2012 to 2022

The development of the BFSI sector and its services is imperative to a better future for all. It is so important it has been identified as the enabler for seven of the 17 UN Sustainable Development Goals.

Africa BFSI sector in numbers

57.4%

of the population aged 15 and above does not own a banking or mobile money

1.5%

Africa’s portion of the total global volume of non-life insurance premiums

Why does investment in BFSI communications technology matter

$150 billion

The value of financial services addressable by Fintech and formal banking.

$230 billion

Estimated financial services revenue by 2025.

What you’ll learn from this eBook

  • Overview of the BFSI sector in South Africa, Kenya, Nigeria and Morocco
  • Cloud, CX and security solutions to drive financial inclusion
  • Digital transformation tips for traditional banks
  • Trends around financial security and authentication