19 Sep Nigeria eCommerce Ripe And Ready - 180m People, 90m with Internet, 60m Formal Bank Accounts, 20m Online Payment Transactions Per Annum

The Central Bank of Nigeria (CBN) is in a race to accelerate the move from cash to card and are having success.  Formal banking is coming off a low base in countries like Uganda (6%), Tanzania (5%), and Ghana (4%).  

 Nigeria’s population is now around 180m people, 90m+ have active access to the internet, and up to 60m have formal bank accounts.  What a great economy for multinational eCommerce companies to do business with!

 In the first three months of 2017, Nigerians did more than 5m online payment transactions to the value of more than $120m ie $40m per month - this growth is almost 60% up on 2016.

 Mobile payment company Paga is on a mission to bank the rest of the unbanked and bring them into the digital economy, allowing their consumers to deposit and withdraw money from more than 11,000 Paga agents across Nigeria.

 If you are a multinational eCommerce company looking to expand to Africa for your eCommerce payments then contact African Payment Solutions now




Our thanks for inspiration to:  https://www.businessdayonline.com/cbn-financial-inclusion-policies-limited-understanding-approach/