• Contact
Saturday, October 18, 2025
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    nigeria

    Nigeria in talks with China for $2bn loan for super grid

    REFINARIA de cabinda distição, Marcelo Hofke, CEO da Gemcorp Angola

    Newly Inaugurated Cabinda Refinery Awarded Downstream Operator of the Year in Luanda

    china

    Africa is becoming one of China’s favorite markets, and Trump may have helped

    Trending Tags

  • Business
    dhl

    DHL plans to invest €300m to expand logistics in Africa

    kenya airways

    Kenya Airways takes off on locally made jet biofuel in bid to attract green investment

    vodacom

    Africa’s second-largest telecom operator to invest $29 million in 5G expansion in South Africa

    multichoice

    French media giant Canal+ to list in South Africa after $3 billion MultiChoice takeover

    refinery

    Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start

    dangote

    Dangote’s wealth rebounds to $29 billion despite domestic pressures, on cement and refinery growth

    Arthur Eze

    Nigerian billionaire to invest $800 million in four offshore oil blocks in Liberia

    elon musk

    Elon Musk is a step closer to becoming a trillionaire. Here’s a look at his rising wealth

    Multichoice logo on building 900x675

    South Africa’s MultiChoice set for new ownership as $3bn takeover deal gets green light

  • Finance
    Standard Bank

    South Africa banks curb lending over climate-related default risks, study finds

    Armando Jorge Mota

    Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    nigeria

    Nigeria in talks with China for $2bn loan for super grid

    REFINARIA de cabinda distição, Marcelo Hofke, CEO da Gemcorp Angola

    Newly Inaugurated Cabinda Refinery Awarded Downstream Operator of the Year in Luanda

    china

    Africa is becoming one of China’s favorite markets, and Trump may have helped

    Trending Tags

  • Business
    dhl

    DHL plans to invest €300m to expand logistics in Africa

    kenya airways

    Kenya Airways takes off on locally made jet biofuel in bid to attract green investment

    vodacom

    Africa’s second-largest telecom operator to invest $29 million in 5G expansion in South Africa

    multichoice

    French media giant Canal+ to list in South Africa after $3 billion MultiChoice takeover

    refinery

    Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start

    dangote

    Dangote’s wealth rebounds to $29 billion despite domestic pressures, on cement and refinery growth

    Arthur Eze

    Nigerian billionaire to invest $800 million in four offshore oil blocks in Liberia

    elon musk

    Elon Musk is a step closer to becoming a trillionaire. Here’s a look at his rising wealth

    Multichoice logo on building 900x675

    South Africa’s MultiChoice set for new ownership as $3bn takeover deal gets green light

  • Finance
    Standard Bank

    South Africa banks curb lending over climate-related default risks, study finds

    Armando Jorge Mota

    Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Finance

There was a 25% increase in finance app installs across Africa between 2021 and 2022

TAB by TAB
16/01/2023
in Finance
0
There was a 25% increase in finance app installs across Africa between 2021 and 2022
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

Data reveals a significant increase in finance app installs across the African continent, as people turn to apps and technology as a way of managing finances, navigating economic uncertainty, and moving towards financial freedom. This is according to a new report released today by AppsFlyer and Google.

The report, which looks at how mobile apps are transforming finance in Africa analyzed more than 140 million installs, across 3,000 finance apps, and found that installs across the continent grew 25%.

Related posts

Standard Bank

South Africa banks curb lending over climate-related default risks, study finds

19/08/2025
7
Armando Jorge Mota

Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

05/08/2024
9

It also revealed that Ghana, Nigeria, Kenya and South Africa were the main contributors to this rise in finance app installs, with the former largely bolstering this by a massive 200%; followed by Nigeria, which saw an increase by 33%. Kenya’s growth was recorded at 5%, while South Africa witnessed a decline by 11%.

Financial Google search increase in Africa

Google search trends between May 2021 and May 2022 showed that lending and currency conversions dominated in terms of interest related to finance – an indication of exactly how uncertain the economic situation has become for most people on the continent, particularly post-pandemic.

Key countries contributing to this increase include South Africa, who led the way in “grant status” and “loan application searches”, recording 700% & 51% increases in search intent respectively. They also led the way in “payment date” searches, with a 700% increase in search intent. There was also a large increase in South Africans searching for “currency conversions”, with a 74% increase in search intent for “euros to rands conversion rates”.

Nigeria topped the list in terms of “loan app” searches, with an increase in search intent of 68% in the country. In Kenya, the majority of people searched for “currency conversion”, with a 52% increase in search intent for “USD to KSH” searches.

How Marketers are responding

According to the report, app install ad spend for finance represented approximately 87% of total spend across the continent between January 2021 and September 2022, confirming exactly how dominant the finance industry is. This figure represents the amount of money invested in advertising campaigns aimed at driving users to app stores to download an app. Indeed, there was a 45% increase in finance app install ad spend across Africa on Android devices between H1 2021 & H2 2022. Marketers have been forced to up their budgets in order to run marketing campaigns to acquire new customers, as well as re-engage dormant users. As a result of this, installs from remarketing campaigns tailored to re-engage customers surged 55% between H1 2021 and H1 2022.

Commenting on findings gathered from the report, Otávio Tranchesi, Industry Lead Finance, AppsFlyer stated, “Once again we are thrilled to collaborate with Google, exploring one of the most exciting industries across the continent. The tech sector in Africa has experienced tremendous growth over the last few years, but one industry that stands out is the financial sector – and with smartphone penetration increasing, mobile is crucial for success. We’re proud to be working alongside so many companies spearheading this growth.”

Lizzie Kondowe, Africa Apps Lead, Google added “When we look at Google’s search trends, it’s clear that financial uncertainty is weighing heavily on many people across the continent. We’re seeing more and more apps come to market that aim to solve these problems, and so it’s no surprise to see installs rising. We’re proud to be working alongside AppsFlyer, to bring marketers the insights and tools they need to grow their apps.”

Source: African Business Communities
Previous Post

How has the Russia-Ukraine crisis affected Africa?

Next Post

Airtel Africa buys 5G Spectrum for $317 millions

Next Post
Airtel Africa buys 5G Spectrum for $317 millions

Airtel Africa buys 5G Spectrum for $317 millions

RECOMMENDED NEWS

Fitch ratings affirms AfDB at ‘AAA’ outlook stable

Fitch ratings affirms AfDB at ‘AAA’ outlook stable

3 years ago
5
Angola improves financial system

Grey List – Angola to discuss financial report with FATF

3 years ago
4
Shakira ordered to stand trial over alleged tax fraud in Spain

Shakira ordered to stand trial over alleged tax fraud in Spain

3 years ago
2
Ronaldo, Messi, Zidane, Maradona – Roy Keane & Jamie Carragher name football’s GOATs

Ronaldo, Messi, Zidane, Maradona – Roy Keane & Jamie Carragher name football’s GOATs

3 years ago
4

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business - News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • DHL plans to invest €300m to expand logistics in Africa
  • Kenya Airways takes off on locally made jet biofuel in bid to attract green investment
  • Africa’s second-largest telecom operator to invest $29 million in 5G expansion in South Africa

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business