Buy Now Pay Later (BNPL) payments in Kenya are expected to grow by 107.8pc on an annual basis to reach $521.8 million in 2022 according to a report.
The BNPL payment industry in Kenya has recorded strong growth over the last four quarters, supported by increased e-commerce penetration along with the impact of economic slowdown due to disruption caused by the Covid-19 outbreak.
The medium to the long-term growth story of the BNPL industry in Kenya remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 52.5pc from 2022 to 2028. The BNPL Gross Merchandise Value in the country will increase from $251.1 million in 2021 to reach $6557.8 million by 2028.
Kenya’s Buy Now Pay Later Market Share Analysis by Key Players
The “Kenya Buy Now Pay Later Business and Investment Opportunities Databook – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report lists the top 5 BNPL key players as:
- Lipa Later
- Flexpay Technologies