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Emerging Opportunities in the Sub-Saharan African Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape

Published By :

BRICdata

Published Date : Aug 2012

Category :

Banking

No. of Pages : 141 Pages


Synopsis

The report provides market analysis, information and insights on the Sub-Saharan African consumer finance market, including:

  • Current and forecast values for the Sub-Saharan African consumer finance market
  • Comprehensive, country-specific analysis of the industry’s market attractiveness and key trends and drivers supporting the growth of the consumer finance market in Sub-Saharan African countries
  • Detailed analysis of the marketing strategies adopted by banks in Sub-Saharan African countries for selling consumer loans 
  • Detailed analysis of the challenges affecting the Sub-Saharan African consumer finance market
  • Company profiles of the major banks in the Sub-Saharan African consumer finance market

Summary

Among the Sub-Saharan markets covered in this report, South Africa leads the consumer finance industry, followed by Nigeria, Kenya and Botswana. The South Africa consumer finance market grew at a compound annual growth rate (CAGR) of 6.14% during the review period (2007–2011). It is projected to retain a high CAGR of 3.29% over the forecast period (2012–2016). The robust growth will be primarily driven by rising disposable income, but strict money lending measures will also contribute to the industry’s growth.  The Nigerian consumer finance industry is projected to register a CAGR of 21.18% over the forecast period. The strong growth will be driven by the country’s improving macroeconomic conditions, government intervention and rising domestic demand for consumer finance products. 

The Kenyan consumer finance market is projected to record a CAGR of 18.21% over the forecast period, driven by the strong macroeconomic conditions and the growing consumer demand for consumer finance products. The Botswanan consumer finance market also recorded strong growth during the review period. Robust real estate industry growth and growing demand for infrastructure development in Sub-Saharan Africa have driven the rising value of the housing loan categories in South Africa, Kenya, Nigeria and Botswana during the review period. South Africa was the largest market for the housing loan category.  

Scope

  • This report provides an extensive analysis of the consumer finance market in Sub-Saharan Africa
  • It details historical values for the consumer finance market in Sub-Saharan Africa for 2007–2011, along with forecast figures for 2012–2016
  • The report provides a detailed analysis on key trends, drivers, marketing strategies and challenges in the consumer finance market in Sub-Saharan Africa
  • It outlines the current regulatory frameworks in the industry
  • It details the marketing strategies adopted by various banks
  • It profiles the major banks in Sub-Saharan Africa

Reasons To Buy

  • Make strategic business decisions using historic and forecast market data related to the Sub-Saharan African consumer finance industry and each market within it
  • Understand the key market trends and growth opportunities within the Sub-Saharan African consumer finance market
  • Assess the competitive dynamics in the Sub-Saharan African consumer finance market
  • Gain insights in to the marketing strategies adopted by banks to sell consumer finance products
  • Gain insights into key regulations governing the consumer finance market in Sub-Saharan African countries

Key Highlights

  • Housing loans is the largest category in the South African consumer finance market, accounting for 51.5% of the total consumer finance market in 2011. The personal loan segment is the second-largest category, accounting for 28.2% of the total market in 2011.
  • The increasing number of vehicle imports into Nigeria is expected to drive the growth of auto sales, boosting the market for auto loans in the country. 
  • Healthy economic growth and rising income levels encouraged more people to purchase houses during the review period. The number of outstanding housing loan accounts in Kenya increased from 8,724 in 2007 to 16,135 in 2011. The number of housing loans will continue to increase over the forecast period.
  • People in Botswana have traditionally been very conservative regarding credit. While the attitude has been changing over the last decade, any slowdown in economic growth in the country may result in consumers returning back to their traditional, conservative behavior.
Table of Content

1 Executive Summary

2 Sub-Saharan Africa – Consumer Finance Market Benchmarking
2.1 Sub-Saharan Africa – Consumer Finance Market Dynamics
2.1.1 Housing loans
2.1.2 Personal loans
2.1.3 Auto loans
2.1.4 Credit card loans
2.1.5 Education loans
2.2 Macroeconomic Factors

3 Consumer Finance Market in South Africa
3.1 Outlook of Consumer Finance in South Africa
3.2 South African Consumer Finance Market Dynamics
3.2.1 Macroeconomic fundamentals
3.2.2 Consumer attitude towards credit
3.2.3 Key performance indicators
3.2.4 Regulatory framework
3.3 South African Consumer Finance Market Size and Growth Potential
3.3.1 Overview
3.3.2 Personal loans
3.3.3 Credit card loans
3.3.4 Auto loans
3.3.5 Housing loans
3.3.6 Education loans
3.4 Key Trends and Growth Drivers for the South African Consumer Finance Market
3.5 Industry Structure and Competitive Landscape
3.5.1 Company profiles
3.6 Strategies
3.6.1 Marketing and product strategies
3.6.2 Market entry strategies
3.6.3 Expansion and growth strategies
3.7 Challenges

4 Consumer Finance Market in Nigeria
4.1 Future Outlook of Consumer Finance in Nigeria
4.2 Nigerian Consumer Finance Market Dynamics
4.2.1 Macroeconomic fundamentals
4.2.2 Consumer attitude towards credit
4.2.3 Key performance indicators
4.2.4 Regulatory framework
4.3 Nigerian Consumer Finance Market Size and Growth Potential
4.3.1 Overview
4.3.2 Personal loans
4.3.3 Credit card loans
4.3.4 Auto loans
4.3.5 Housing loans
4.3.6 Education loans
4.4 Key Trends and Growth Drivers for the Nigerian Consumer Finance Market
4.5 Industry Structure and Competitive Landscape
4.5.1 Market shares of Nigerian banks by asset size
4.5.2 Company profiles
4.6 Strategies
4.6.1 Marketing and product strategies
4.6.2 Market entry strategies
4.6.3 Growth strategies
4.7 Challenges

5 Consumer Finance Market in Kenya
5.1 Future Outlook of Consumer Finance in Kenya
5.2 Kenyan Consumer Finance Market Dynamics
5.2.1 Macroeconomic fundamentals
5.2.2 Consumer attitude towards credit
5.2.3 Key performance indicators
5.2.4 Regulatory framework
5.3 Kenya Consumer Finance Market Size and Growth Potential
5.3.1 Overview
5.3.2 Personal loans
5.3.3 Credit card loans
5.3.4 Auto loans
5.3.5 Housing loans
5.3.6 Education loans
5.4 Key Trends and Growth Drivers for the Kenyan Consumer Finance Market
5.5 Industry Structure and Competitive Landscape
5.5.1 Market share of Kenyan banks by assets
5.5.2 Market share of Kenyan banks by number of loan accounts
5.5.3 Housing loans market share
5.5.4 Company profiles
5.6 Strategies
5.6.1 Marketing and product strategies
5.6.2 Market entry strategies
5.6.3 Growth strategies
5.7 Challenges

6 Consumer Finance Market in Botswana
6.1 Future Outlook of Consumer Finance in Botswana
6.2 Botswanan Consumer Finance Market Dynamics
6.2.1 Macroeconomic fundamentals
6.2.2 Consumer attitudes towards Credit
6.2.3 Key performance indicators
6.2.4 Regulatory framework
6.3 Botswana Consumer Finance Market Size and Growth Potential
6.3.1 Overview
6.3.2 Housing loans
6.3.3 Auto loans
6.3.4 Credit card loans
6.3.5 Personal loans
6.3.6 Education loans
6.4 Key Trends and Growth Drivers for the Botswana Consumer Finance Market
6.5 Industry Structure and Competitive Landscape
6.5.1 Overview
6.5.2 Company profiles
6.6 Business and Operational Strategies
6.6.1 Marketing and product strategies
6.6.2 Market entry strategies
6.6.3 Expansion and growth strategies
6.7 Challenges

7 Appendix
7.1 About BRICdata
7.1.1 Exchange rate
7.1.2 Areas of expertise
7.2 Methodology
7.3 Disclaimer

List of Table


Table 1: Sub-Saharan African Countries’ Macroeconomic Conditions, 2011 
Table 2: Sub-Saharan African Countries’ Macroeconomic Indicators, 2011 
Table 3: South Africa Consumer Finance Market Outlook (ZAR Billion), 2011–2016 
Table 4: South African GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Table 5: South African Inflation Rate (%), 2007–2016 
Table 6: Market Size of the South African Banking Sector 
Table 7: List of Banks in South Africa 
Table 8: South African Banking Industry Value by Consumer Loans and Deposits (US Billion), 2007–2016 
Table 9: South African Banking Industry Growth by Performance Indictor (%), 2007–2011 
Table 10: South African Banking Industry Growth by Performance Indictor (%), 2011–2016 
Table 11: South African Consumer Finance Market Size by Category (US$ Billion), 2007–2016 
Table 12: South African Consumer Finance Market Size by Category (ZAR Billion), 2007–2016 
Table 13: South African Personal Loans Category Size (US$ Billion), 2007–2016 
Table 14: South African Personal Loans Category Size (ZAR Billion), 2007–2016 
Table 15: South African Credit Card Loans Category Size (US$ Billion), 2007–2016 
Table 16: South African Credit Card Loans Category Size (ZAR Billion), 2007–2016 
Table 17: South African Auto Loans Category Size (US$ Billion) 2007–2016 
Table 18: South African Auto Loans Category Size (ZAR Billion), 2007–2016 
Table 19: South African Housing Loans Category Size (US$ Billion), 2007–2016 
Table 20: South African Housing Loans Category Size (ZAR Billion), 2007–2016 
Table 21: South African Education Loans Category Size (US$ Billion), 2007–2016 
Table 22: South African Education Loans Category Size (ZAR Billion), 2007–2016 
Table 23: South African Credit Card Transaction Values and Volumes, 2008–2011 
Table 24: List of  Foreign Banks in South Africa 
Table 25: Nigerian Consumer Finance Market Outlook (NGN Billion), 2011–2016 
Table 26: Nigerian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Table 27: Nigerian Inflation Rate (%), 2007–2016 
Table 28: Nigerian Population (Million), 2007–2016 
Table 29: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2007–2011 
Table 30: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2012–2016 
Table 31: Nigerian Consumer Finance Market Size (US$ Billion), 2007–2016 
Table 32: Nigerian Consumer Finance Market Size (NGN Billion), 2007–2016 
Table 33: Nigerian Personal Loans Category Size (US$ Billion), 2007–2016 
Table 34: Nigerian Personal Loans Category Size (NGN Billion), 2007–2016 
Table 35: Nigerian Credit Card Loans Category Size (US$ Million), 2007–2016 
Table 36: Nigerian Credit Card Loans Category Size (NGN Billion), 2007–2016 
Table 37: Nigerian Auto Loans Category Size (US$ Billion), 2007–2016 
Table 38: Nigerian Auto Loans Category Size (NGN Billion), 2007–2016 
Table 39: Nigerian Housing Loans Category Size (US$ Billion), 2007–2016 
Table 40: Nigerian Housing Loans Category Size (NGN Billion), 2007–2016 
Table 41: Nigerian Educational Loans Category Size (US$ Million), 2007–2016 
Table 42: Nigerian Educational Loans Category Size (NGN Billion), 2007–2016 
Table 43: Nigerian GDP Per Capita, Current Prices (US$ dollars), 2007–2016 
Table 44: Banks in Nigeria 
Table 45: Nigerian Banking Models 
Table 46: First Bank of Nigeria Plc, Key Facts 
Table 47: United Bank for Africa, Key Facts 
Table 48: Guaranty Trust Bank Plc, Key Facts 
Table 49: Zenith Bank Plc, Key Facts 
Table 50: Access Bank Plc, Key Facts 
Table 51: Diamond Bank Plc, Key Facts 
Table 52: Ecobank Group, Key Facts 
Table 53: Market Entry Strategies of Foreign Banks in Nigeria 
Table 54: Kenyan Consumer Finance Market Value by Category (KES Billion), 2011–2016 
Table 55: Kenyan GDP at Constant Prices (US$ Billion), (Base Year 1999–2000), 2007–2016 
Table 56: Kenyan Inflation Rate (%), 2007–2016 
Table 57: Kenyan Banks Total Assets (KES Billion), 2007–2011 
Table 58: Kenyan Commercial Banks Total Deposits (KES Billion), 2007–2011 
Table 59: Kenyan Consumer Finance Market Size (US$ Billion), 2007–2016 
Table 60: Kenyan Consumer Finance Market Size (KES Billion), 2007–2016 
Table 61: Kenyan Personal Loans Category Size (US$ Billion), 2007–2016 
Table 62: Kenyan Personal Loans Category Size (KES Billion), 2007–2016 
Table 63: Kenyan Credit Cards Loans Category Size (US$ Million), 2007–2016 
Table 64: Kenyan Credit Cards Loans Category Size (KES Billion), 2007–2016 
Table 65: Kenyan Auto Loans Category Size (US$ Billion), 2007–2016 
Table 66: Kenyan Auto Loans Category Size (KES Billion), 2007–2016 
Table 67: Kenyan Housing Loans Category Size (US$ Billion), 2007–2016 
Table 68: Kenyan Housing Loans Category Size (KES Billion), 2007–2016 
Table 69: Kenyan Educational Loans Category Size (US$ Million), 2007–2016 
Table 70: Kenyan Educational Loans Category Size (KES Billion), 2007–2016 
Table 71: Kenyan University Enrollments, 2008–2011 
Table 72: Kenyan Credit Card, 2007–2011 
Table 73: Kenyan Banking Sector Market Shares by Assets (%), 2011 
Table 74: Kenyan Banking Sector Market Shares by Number of Loan Accounts (%), 2011 
Table 75: Kenyan Housing Loan Market – Leading Companies (% Share), 2011 
Table 76: Barclays Bank of Kenya Ltd, Main Products 
Table 77: Kenya Commercial Bank, Key Facts 
Table 78: Representative Offices of Foreign Banks in Kenya 
Table 79: Representative Offices of Foreign Banks in Kenya 
Table 80: Kenyan Car Sales, 2008–2011 
Table 81: Kenyan Interest Rates (%), 2007–2011 
Table 82: Botswana Consumer Finance Market Outlook (BWP Million), 2011–2016 
Table 83: Botswanan GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Table 84: Botswanan Inflation Rate (%), 2007–2016 
Table 85: Botswanan Commercial Banks – Total Assets (BWP Billion) 2007–2011 
Table 86: Botswanan Commercial Banks – Total Deposits (BWP Billion), 2007–2011 
Table 87: Botswanan Consumer Finance Market Size (US$ Million), 2007–2016 
Table 88: Botswanan Consumer Finance Market Size (BWP Million), 2007–2016 
Table 89: Botswanan Housing Loans Category (US$ Million), 2007–2016 
Table 90: Botswanan Housing Loans Category (BWP Million), 2007–2016 
Table 91: Botswanan Auto Loans Category (US$ Million), 2007–2016 
Table 92: Botswanan Auto Loans Category, (BWP Million), 2007–2016 
Table 93: Botswanan Credit Cards Category (US$ Million), 2007–2016 
Table 94: Botswanan Credit Cards Category (BWP Million), 2007–2016 
Table 95: Botswanan Personal Loans Category (US$ Million), 2007–2016 
Table 96: Botswanan Personal Loans Category (BWP Million), 2007–2016 
Table 97: Botswanan Education Loans Category (US$ Million), 2007–2016 
Table 98: Botswanan Education Loans Category (BWP Million), 2007–2016 
Table 99: Botswana – Three-to-Five-Year Loan Values (BWP Billion), 2007–2011 
Table 100: Botswanan Interest Rates (%), 2007–2011 
Table 101: Botswana – Number of Credit Cards Issued (Thousands), 2006–2010 
Table 102: Botswanan Transactions through POS Terminals (Thousands), 2007–2011 
Table 103: Botswanan Banking Industry – Key Figures, FY2009–FY2010 
Table 104: Standard Chartered Bank, Botswana, Key Facts 
Table 105: Barclays Bank, Botswana, Key Facts 
Table 106: Standard Bank, Botswana, Key Facts 
Table 107: First National Bank of Botswana, Key Facts 
Table 108: Bank Gaborone Ltd, Key Facts 
Table 109: Letshego Holdings, Key Facts 
Table 110: Botswana – List of Foreign Banks (2011) 
Table 111: Annual Exchange Rate, 2007–2016

List of Chart


Figure 1: Consumer Finance Market Dynamics in Sub-Saharan African Countries, 2007–2016 
Figure 2: Housing Loan Market Dynamics in Sub-Saharan African Countries, 2007–2016 
Figure 3: Personal Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 
Figure 4: Auto Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 
Figure 5: Credit Card Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 
Figure 6: Education Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 
Figure 7: South Africa – Future Outlook for Consumer Finance (ZAR Billion) 
Figure 8: South African GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Figure 9: South African Inflation Rate (%), 2007–2016 
Figure 10: South African FDI Inflows (US$ Billion), 2007–2010 
Figure 11: South African Urban and Rural Population (%), 2007–2016 
Figure 12: South African Banking Industry Value by Consumer Loans and Deposits (US$ Billion), 2007–2016 
Figure 13: South African Banking Industry Growth by Performance Indictor (%), 2007–2016 
Figure 14: South African Consumer Finance Market Size (ZAR Billion), 2007–2016 
Figure 15: South African Consumer Finance Market Size by Category (ZAR Billion), 2007–2016 
Figure 16: South African Personal Loans Category Size (ZAR Billion), 2007–2016 
Figure 17: South African Credit Card Loans Category Size (ZAR Billion), 2007–2016 
Figure 18: South African Auto Loans Category Size (ZAR Billion), 2007–2016 
Figure 19: South African Housing Loans Category Size (ZAR Billion), 2007–2016 
Figure 20: South African Education Loans Category Size (ZAR Billion), 2007–2016 
Figure 21: South African Number of Households (Million), 2007–2016 
Figure 22: South Africa Mobile Penetration Rate (Million), 2007–2016 
Figure 23: Top Ten South African Banks by Assets (ZAR Billion), 2011 
Figure 24: Market Shares of South African Banks (% Share), 2011 
Figure 25: South African Consumer Finance Market Challenges 
Figure 26: South African Consumer Finance Market Challenges 
Figure 27: Nigerian Consumer Finance Market Outlook (NGN Billion), 2011–2016 
Figure 28: Nigerian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Figure 29: Nigerian Inflation Rate (%), 2007–2016 
Figure 30: Nigerian FDI Inflow, (US$ Billion), 2007–2010 
Figure 31: Nigerian Urban and Rural Populations, 2007–2016 
Figure 32: Nigerian Population (Million), 2007–2016 
Figure 33: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2007–2011 
Figure 34: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2012–2016 
Figure 35: Nigerian Consumer Finance Market Size (NGN Billion), 2007–2016 
Figure 36: Nigerian Personal Loans Category Size (NGN Billion), 2007–2016 
Figure 37: Nigerian Credit Cards Loans Category Size (NGN Million), 2007–2016 
Figure 38: Nigerian Auto Loans Category Size (NGN Billion), 2007–2016 
Figure 39: Nigerian Housing Loans Category Size (NGN Billion), 2007–2016 
Figure 40: Nigerian Educational Loans Category Size (NGN Billion), 2007–2016 
Figure 41: Nigerian GDP Per Capita, Current Prices (US$ dollars), 2007–2016 
Figure 42: Nigerian Imports of Passenger Cars (Units), 2006–2011 
Figure 43: Nigerian Banks’ Market Shares by Asset Size (NGN Billion), 2011 
Figure 44: Nigerian Unemployment Rate, 2007–2011 
Figure 45: Nigerian Prime Lending Rate, 2007–2011 
Figure 46: Kenyan Consumer Finance Market Dynamics by Category, 2007–2016 
Figure 47: Kenyan GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Figure 48: Kenyan Inflation Rate (%), 2007–2016 
Figure 49: Kenyan FDI Inflows (US$ Million), 2007–2010 
Figure 50: Kenyan Urban and Rural Populations, 2007–2016 
Figure 51: Kenyan Banks Total Assets (KES Billion), 2007–2011 
Figure 52: Kenyan Commercial Banks Total Deposits (KES Billion), 2007–2011 
Figure 53: Kenyan Consumer Finance Market Size (KES Billion), 2007–2016 
Figure 54: Kenyan Personal Loans Category Size (KES Billion), 2007–2016 
Figure 55: Kenyan Credit Cards Loans Category Size (KES Billion), 2007–2016 
Figure 56: Kenyan Auto Loans Category Size (KES Billion), 2007–2016 
Figure 57: Kenyan Housing Loans Category Size (KES Billion), 2007–2016 
Figure 58: Kenyan Educational Loans Category Size (KES Billion), 2007–2016 
Figure 59: Kenyan Housing Loan Accounts, 2007–2011 
Figure 60: Kenyan Bank Non-Performing Loan Ratio (%), 2007–2011 
Figure 61: Kenyan POS Terminals, 2007–2011 
Figure 62: Kenyan Credit Card, 2007–2011 
Figure 63: Kenyan Banking Industry Structure, December 2011 
Figure 64: Kenyan Banking Industry Structure – Ownership vs Assets, December 2011 
Figure 65: Kenyan Banking Sector Market Shares by Assets (%), 2011 
Figure 66: Kenyan Banking Sector Market Shares by Number of Loan Accounts (%), 2011 
Figure 67: Kenyan Housing Loan Market – Leading Companies (% Share), 2011 
Figure 68: Kenyan Consumer Finance Market Challenges 
Figure 69: Kenyan Interest Rates (%), 2007–2011 
Figure 70: Botswanan Consumer Finance Market Outlook 
Figure 71: Botswanan GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) 
Figure 72: Botswanan Inflation Rate (%), 2007–2016 
Figure 73: Botswanan FDI Inflows (US$ Billion), 2007–2010 
Figure 74: Botswanan Urban and Rural Populations (%), 2007–2016 
Figure 75: Botswanan Commercial Banks – Total Assets (BWP Billion), 2007–2011 
Figure 76: Botswanan Commercial Banks – Total Deposits (BWP Billion), 2007–2011 
Figure 77: Botswanan Consumer Finance Market Size (BWP Million), 2007–2016 
Figure 78: Botswanan Housing Loans Category Size (BWP Million), 2007–2016 
Figure 79: Botswanan Auto Loans Category Size (BWP Million), 2007–2016 
Figure 80: Botswanan Credit Cards Category Size (BWP Million), 2007–2016 
Figure 81: Botswanan Personal Loans Category Size (BWP Million), 2007–2016 
Figure 82: Botswanan Education Loans Category Size (BWP Million), 2007–2016 
Figure 83: Botswana – Three-to-Five-Year Loan Values (BWP Billion), 2007–2011 
Figure 84: Botswanan Interest Rate (%), 2007–2011 
Figure 85: Botswana – Number of Credit Cards Issued (Thousands), 2006–2010 
Figure 86: Botswanan Transactions through POS Terminals (Thousands), 2007–2011 
Figure 87: Market Shares of Botswanan Banks (by Assets), 2010 
Figure 88: Botswanan Consumer Finance Market – Expansion and Growth Strategy 
Figure 89: Botswanan Consumer Finance Market Challenges

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