Rabat – Banks in North Africa will overpower revenue shares in South Africa by 2022, according to a recent report on retail banking in Africa from the management consulting firm McKinsey and Company. South Africa will see its share fall to 26 percent in 2020, down from 30 percent in 2017 and 37 percent in 2012. “There is a shift underway in exchange rate adjusted revenue pools towards North Africa, East Africa, and West Africa, and away from South Africa and Central Africa,” said the report. “Africa’s banking markets are roaring to life. Three-quarters of the USD 18 billion in absolute retail revenue growth will be concentrated in 10 countries; though the greatest retail growth will be in South Africa, Morocco will feature among the leading growth markets in the sector.

Source: The North Africa Journal March 05, 2018 18:22 UTC