1 Million Bitcoin Wallets in Africa by End of 2015


From: http://bitcoinnewschannel.com/2016/01/27/case-study-by-the-end-of-2015-there-were-1-million-bitcoin-wallets-in-africa/

Case Study – By the end of 2015, There Were 1 Million Bitcoin Wallets in Africa

27th January 2016
By Andriour Indridi

A study that has just been published yesterday by Report Buyer, titled “Mega Trends in Africa”, estimated that by the end of 2015, there were already more than one million bitcoin wallets created in Africa. The study that was conducted by Frost & Sullivan, focused on the future prospect of Africa’s growth while analyzing the trends of exogenous factors that can influence the African economic growth within the next ten years. (Note: See Mega Trends in Africa report at https://www.reportbuyer.com/product/3312520/mega-trends-in-africa.html

Africa is very welcoming to Fintech technologies:

The current demographic trends in Africa including rising incomes, urbanization and the high percentage of youth among the African population, have catalyzed the rise of interest in computers, smartphones, tablets…etc. According to the study, every African consumer will have at least one connected device within the next 10 years.

The African digital economy is expected to grow exponentially, thanks to the rapid development of devices. Africa’s internet market capital is expected to reach one billion USD by the year 2025, according to figures derived from total ICT spending. Moreover, the internet economy is expected to account for a considerable percentage of the continent’s GDP, or gross domestic product by the year 2025.

Africa has witnessed a revolution in mobile use during the past few years which pollinated the growth of various mobile payment applications across Africa, such as Bitpesa which has helped thousands of individuals in Africa use bitcoin easily, especially in countries in Central and Western parts of Africa. The researchers expected that at least one million Africans will be sending and receiving payments via mobile wallets within the next 10 years which would raise this niche’s market capital to around one billion US Dollars.

Bitcoin and The Future of Africa:

According to the study, Africa has a great market potential for establishing businesses that operate in various digital currency ecosystems. As the study was conducted in September, 2015, although it was just published yesterday, it predicted Africa to have around one million bitcoin wallets by the end of the year of 2015. Moreover, the researchers reported that around 33% of all Kenyans have had a bitcoin wallet by the end of 2015.

Online retailing, or e-commerce, is expected to grow markedly in the next few years to reach a considerable percentage of the total African retail sales by the year 2025. The report predicted Nigeria, Egypt, South Africa and Kenya to represent the top markets for Africa’s online retailing.


A market research that has been just published by Report Buyer estimated that Africa has had around one million bitcoin wallets by the end of 2015. The researchers believe that Africa represents a potential market for bitcoin and other forms of digital currencies. Online retailing is expected to grow markedly within the next few years with Nigeria, Egypt, South Africa and Kenya being the top markets for Africa’s e-commerce expansion.
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