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EBANX expands operations to 8 more African countries, connecting global companies to nearly 1 billion digital consumers

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EBANX has expanded its operations in Africa, following its successful entry into the continent in September 2022 when it began operations in South Africa, Nigeria, and Kenya.

The global technology company, specializing in payments for emerging markets, made this announcement during its seventh Payments Summit held in São Paulo, Brazil, from September 18th to 20th.

This strategic expansion extends to eight additional African countries, namely the Ivory Coast, Egypt, Ghana, Morocco, Senegal, Tanzania, Uganda, and Zambia.

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EBANX will facilitate local payments for global merchants in these countries, strengthening its presence in Africa and bringing the total number of countries it operates in on the continent to 11, covering Northern, Western, East, and Southern Africa.

In addition to its African expansion, EBANX revealed its plans to further its reach in Latin America and the Caribbean by adding the Bahamas and Jamaica to its portfolio. This move increases its coverage to 17 Latin American countries and 29 worldwide, including the recent inclusion of India.

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President of Global Payments at EBANX, Paula Bellizia emphasized the company’s commitment to connecting digital buyers in rapidly growing regions like Africa, Asia, and Latin America to global brands through technology and local payment solutions.

“The expansion into Africa is particularly significant given the continent’s potential for digital commerce growth. Insider Intelligence data indicates an expected 10% annual increase in online shoppers in Africa until 2027. Despite a population exceeding 1 billion people, only 15% of Africans have made online purchases, according to the World Bank, indicating a burgeoning market with considerable growth potential.”

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Africa’s high mobile phone penetration, with 83% of the population having mobile subscriptions, and 75% of internet traffic conducted via mobile phones, has facilitated the adoption of digital payments.

Mobile money penetration in Africa is the highest globally, accounting for nearly 70% of the total volume transacted worldwide, with countries like Kenya leading the way.

EBANX’s entry into Egypt and Morocco leverages different payment methods tailored to local preferences. In Egypt, where mobile phone and internet penetration rates are above average, the company will commence operations with cash-based methods to address the 73% of Egyptians who are unbanked.

In Morocco, with its high internet penetration and growing mobile phone usage, EBANX aims to tap into a digital commerce market projected to reach USD 5 billion in volume by year-end.
Additionally, EBANX’s expansion into the Bahamas and Jamaica complements its presence in Central America and the Caribbean, where cross-border commerce dominates the online sales landscape.

This move aligns with the region’s proximity to the United States, a history of tourist traffic, and a preference for global brands.

Andre Allain, Vice President (VP) of Partnerships and Market Development at EBANX, emphasized the importance of tailoring payment strategies to each country and connecting global brands with local ecosystems in these regions to harness their full potential.

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Diana Mutheu
Diana Mutheu
Diana Mutheu is a Tech enthusiast, happy to delve deeper into the African tech space covering Social Media, AI, Startups, Telcos, Cryptocurrency, Big Data, Women in Tech and all matters Tech. Write to me @[email protected]

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