Many African countries have seen record growth in electronic payments over the past two years, and the trend is expected to continue. According to work by senior partner Alessio Botta and colleagues, McKinsey anticipates that Africa’s e-payments market will grow by more than 150 percent between 2020 and 2025, reaching nearly $40 billion in revenues from domestic payments alone.
To read the article, see “The future of payments in Africa,” September 7, 2022.