The Market Potential
With high proportion of unbanked populations in Africa estimated at 60%, rising consumers with more disposable income and a growing middle class in emerging markets such as Africa, access to financial services has become an imperative. However, the process and the associated-cost to accessing these services remain an issue.
Meanwhile, traditional financial institutions in the banking and non-banking sectors remain indifferent.
This offers endless opportunities for financial technologies such as West Cape to change the status quo.
Operation information: Already in the market
Target Market: Africa (10 countries in 2 years), Asia, Americas and Europe.
Market Size: Currently estimated at $300 bn - $400 bn by 2025.