Table of Contents
Current State of Banking
Emerging Banking Trends
Evolving Information and Communication Technology
Regulation and Oversight
Commercial Bank Reach
Reaching the Unbanked
Read the full report below.
The banking sectors of a number of sub-Saharan Africa (SSA) countries have exhibited significant growth in recent years. The key contributing factors have been increased economic activity and improved regulatory oversight.
However, the rapid rise of pan-African banks has also been a contributing factor. The growing presence of major pan-African and global banks on the continent has undoubtedly improved the availability and quality of financial services in recent years.
Recommended: Mobile money, mobile banking: Africa’s telecom firms are becoming rivals for banks (Video)
That said, large banks from well-developed financial markets on the African continent have made the biggest impact. As a result, financial sectors across the SSA region stand to benefit from gains in efficiency, innovation and financial deepening.
On the other hand, the rise of pan-African banks raises the possibility of financial sector contagion across borders. As such, banking sector oversight may need to be improved and the regulatory frameworks strengthened as financial markets become more integrated.
Despite strong banking sector growth, a large proportion of the African populace still does not make use of formal financial services. Banking penetration still remains as low as 36% in some of the larger economies. The fact that commercial banks’ reach – in terms of branches and ATMs as a proportion of the population – remains well below global averages certainly does not prove helpful in this regard.
Recommended: Africa is the horizon – 2015 African Business Outlook Survey: The Economist Corporate Network (Infographics & Report)
That said, commercial bank branches and ATMs are costly and most efficient in areas with high population density and are thus not really suited to serve the large unbanked populations which are widely dispersed over large areas. To bridge this gap, banks have started to explore alternative operating models, including mobile banking, mobile branches and using third-party agents.
This report intends to explore the abovementioned topics in more detail.
Unable to view the “Banking in Sub-Saharan Africa 2015: KMPG” report below? Download it here
Banking in Sub-Saharan Africa 2015: KMPG
more analytics from African Business Central.
- Sub-Saharan Africa Banking Review 2015: EY (Infographic & Report)
- Africa’s digital banking boom
- Fact of the Day: Kenyan bank KCB disburses one loan every eight seconds
- South Africa’s MTN bets on mobile banking with new CEO
- How the finance sector can drive Africa’s economic growth: Bisi Lamikanra, Partner, KPMG Nigeria
- In South Africa and Nigeria, banks want to be phone companies. In Kenya, the phone company is already the bank
- The top 7 African countries for mobile money (Infographics)
- Innovative credit scoring in Africa uses mobile phone usage and social media activity to measure creditworthiness of individual borrowers
- Mobile telephony enables Nigerian banks to fine tune services
- Visa and MasterCard moving into mobile pay in Africa
- Disrupting mobile banking in Kenya: Slim SIMs
- Mobile money, mobile banking: Africa’s telecom firms are becoming rivals for banks (Video)
- Armed with fintech and fueled by data: Africa’s banker of tomorrow
- Mobile connectivity and technology in Africa: Ahead of the global game?
- Transaction banking is dead: Econet Wireless Founder Strive Masiyiwa
- Kenya’s KCB sees growth from new M-PESA-based mobile phone accounts, says CEO Joshua Oigara
- Africa Arisen: The Blue Sky Continent 2014 – KPMG (Report)
- M-PESA To Monitise: How Necessity Is Pushing FinTech Innovation From Africa To The UK
- Nigerian mobile payments company Paga attracts foreign backers
- Orange and Ecobank launch money transfer service between Orange Money accounts and bank accounts
- Kenya’s Equity Bank to focus on developing mobile banking business
- Commonwealth Bank of Australia (CBA) acquires Johannesburg-based digital banking startup TYME for undisclosed amount
- A New Map for Business in Africa
- The battle between Africa’s mobile phone companies and banks is a boon for financial inclusion
- Africa’s Economic Prospects: Bryan Leith, COO, KPMG Africa
- Mobile money in Africa: The next generation
- African Markets Guide 2015: Barclays (Report)
- The role of cities in Africa’s rise: KPMG (Infographics & Report)
- Multi-bank and multi-bank mobile money service HelloCash launches in Ethiopia
- Listing on African Stock Exchanges – Extractive Industries: KPMG (Report)
- Africa Asset Management 2020: PwC (Infographics & Report)
- Sub-Saharan Africa’s telecoms market is growing faster than that of any other global region and will top $65B billion by 2018: Analysys Mason
- Safaricom’s M-PESA has Kenya’s government worried what happens in the event of a crash (Infographic)
- Why Diageo, PZ Cussons, and Atlas Mara are betting big on Africa
- Africa Comes Into View
- mBanking transactions in Nigeria hit over $2B, says Central Bank of Nigeria
- US-Africa Business Forum: An interview with James Mwangi, CEO of Equity Bank, and Tom Klein, President & CEO of Sabre (Video)
- Bitcoin’s Big Opportunity In Africa
- Luxury Goods in Africa – A Maturing Sector (Report): KPMG
- Kenya’s Equity Bank plans 10-nation Africa expansion, says CEO James Mwangi