The Buy Now Pay Later (BNPL) sector in Africa and the Middle East is on a rapid growth trajectory, projected to expand by 22.3% annually, reaching a market value of $9.2 billion in 2024. The long-term outlook remains robust, with a compound annual growth rate (CAGR) of 16.1% anticipated from 2024 to 2029, driving the gross merchandise value from $7.5 billion in 2023 to an estimated $19.5 billion by 2029. This growth is fueled by increasing consumer credit demand across diverse demographics, with notable trends in luxury and essential purchases. Recent developments include innovative product launches and strategic partnerships among key players like CredPal, Tamara, and Tabby. Regulatory changes in the UAE and Saudi Arabia are shaping the market landscape, providing clearer operational guidelines that could facilitate mergers and acquisitions. Overall, the BNPL market in these regions presents significant investment opportunities driven by evolving consumer behaviors and expanding service offerings.
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