Africa: The future of Smartcard [Business]

There is nowhere else in the world that moves more money on mobile phones than Sub-Saharan Africa.

The region is currently responsible for an astonishing 45.6% of mobile money activity in the world an estimate of at least $26.8 billion in transaction value in 2018 alone this figure excludes bank operated solutions.

However, Sub-Saharan Africa lags behind other regions such as Asia in moving away from cash to plastic money. In view of this, a Nigerian company is aiming to close that gap by tapping into a growing appetite for smartcards across the continent.

SecureID, a Nigerian manufacturing and technology company, makes bank cards, mobile phone SIMs and voting cards, which it said creates for businesses in 21 African countries.

The appetite for smartcards is rising in Africa, and a Nigerian manufacturer is trying to bolster its market share https://t.co/q7AUUcbqjT pic.twitter.com/DY4q5TE6eK

— Reuters India (@ReutersIndia) November 26, 2019

SecureID, Founder, Kofo Akinkugbe believes there is a gap in other African markets for the manufacturing of smartcards.