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Africa's alternative lending market to grow to $8.1B by 2029, driven by digital credit and regulatory reforms.

Market News
22 May 2026
Researchandmarkets.Com
View Source
Bullish
pluang ai news

Africa's alternative lending market is projected to grow from $4.8 billion in 2025 to $8.1 billion by 2029, with a CAGR of 13.9%. Growth is fueled by expanding digital credit via mobile money, tighter regulations in Nigeria, Kenya, and Ghana, and increased integration of lending into telecom and B2B ecosystems. Key players include telcos like Safaricom and fintechs such as JUMO, while banks are re-entering through acquisitions. The market is shifting towards formal licensing, stronger consumer protections, and asset-backed finance models like PAYGo, making lending more accessible and regulated across the continent.

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