%2Fuploads%2Ffintech-africa%2Finfobytes%2Fcar%2520ownership%2520in%2520africa.jpg&w=3840&q=75)
Sample of Car Ownership in Africa VS World
Car ownership is important for several reasons, as it can influence various aspects of society, the economy and individuals’ lives.
Car ownership can also be an indicator of a country’s economic development and purchasing power of its citizens.
Higher car ownership rates correspond to higher levels of income, as many people can afford to purchase and maintain a vehicle.
However, this number is markedly lowest in Africa, compared to the rest of the world.
According to the World Bank, the global average car ownership rate is estimated to be 190 passenger cars per 1,000 people.
South Africa has the highest car ownership rates in Africa with ±170 passenger cars per 1,000 people in 2020 but is still lower than the global average.
Related Report
%2Fuploads%2Ffintech-africa%2Fcover.jpg&w=3840&q=75)
The Future of Fintech in Africa
Eighteen percent of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, without a bank account or a digital wallet. This presents a massive opportunity, making fintech the most dominant and funded tech sector in Africa today. This special report highlights how African fintechs not only have one of the largest total addressable markets globally but are also crucial for achieving financial inclusion and empowering unbanked populations. The potential impact of a successful fintech in Africa is unparalleled. To learn more about the drivers, barriers, and opportunities in African fintech, as well as progress toward financial inclusion, read the special report.
Related Videos & Podcasts
Are African Startups the Next Growth Engines of the World? - with Mika & Hisham at P1 Ventures | The Perfect Pitch Podcast Ep10
By Staff Writer • November 28, 2024Opportunities in Africa’s Startup Ecosystem
By Staff Writer • March 06, 2024Stories of Tech Unicorns in Africa
By Staff Writer • March 05, 2024How African Demographics Bring Opportunity & Challenges
By Staff Writer • March 04, 2024Could Africa become the Next Global Fintech Hub?
By Lucidity Insights Research Team • August 30, 2023How is the Usage Gap Affecting Fintechs in Africa?
By Lucidity Insights Research Team • August 29, 2023The Top 10 Most Funded Startups in Nigeria in 2022
By Lucidity Insights Research Team • August 24, 2023The Impact of Fintech for Financial Inclusion in Africa
By Lucidity Insights Research Team • August 16, 2023Who are the unicorns in African Fintech?
By Lucidity Insights Research Team • August 09, 2023What’s driving fintech success in Africa
By Lucidity Insights Research Team • August 08, 2023
%2Fuploads%2Fpodcast%2Fperfect-pitch%2F10a.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fpodcast%2Fep3_lcdt.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fpodcast%2Fep2_lcdt.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fpodcast%2Fep1_lcdt.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fvideos%2Ftrailer.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fvideos%2Fvid12_FintAfrica.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fvideos%2Fvid11_FintAfrica.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fvideos%2Fvid09_FintAfrica.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fvideos%2Fvid07_FintAfrica.jpg&w=3840&q=75)
%2Fuploads%2Ffintech-africa%2Fvideos%2Fvid08_FintAfrica.jpg&w=3840&q=75)
Did you check these out?
invygo Gains $8M Funding, Aims for Profitability with STO Model
By Press Release • October 24, 2024Stitch Secures $55M to Expand End-to-End Payments Across Africa
By Staff Writer • April 11, 2025Umba, Kenya's Digital Bank, Raises $5M to Expand SME and Loan Growth
By Staff Writer • April 10, 20255 Most Funded Startups in Sub-Saharan Africa in February 2025
By Staff Writer • March 27, 2025Jem HR Gets $3.3M Boost to Expand Employee Benefits & HR Solutions
By Staff Writer • March 26, 2025Sub-Saharan Africa’s Startup Funding: 2025 Trends So Far
By Staff Writer • March 25, 2025VFD Group Invests $3.3 Million in V Bank to Drive Fintech Expansion
By Staff Writer • February 24, 2025Raenest Secures $11M to Scale Global Payment Services for Africans
By Staff Writer • February 14, 2025Ghana’s Affinity Africa Raises $8M Seed Round to Expand Fintech Services
By Staff Writer • February 13, 20255 Most Funded Startups in Sub-Saharan Africa in January 2025
By Staff Writer • February 10, 2025
%2Fuploads%2Fpr%2520articles%2F2024%2F10%2F24_7invygo.jpg&w=3840&q=75)
%2Fuploads%2Fpr%2520articles%2F2025%2F04%2F11_2stitch.jpg&w=3840&q=75)
%2Fuploads%2Fpr%2520articles%2F2025%2F04%2F10_2umba.jpg&w=3840&q=75)
%2Fuploads%2Farticles%2F2025%2F0327_ssa-most-funded-startups-feb-25%2Fcover.jpg&w=3840&q=75)
%2Fuploads%2Fpr%2520articles%2F2025%2F03%2F26_4jem.jpg&w=3840&q=75)
%2Fuploads%2Fnewsletter%2F2025%2F0327_1.jpg&w=3840&q=75)
%2Fuploads%2Fpr%2520articles%2F2025%2F02%2F24_2vfd.jpg&w=3840&q=75)
%2Fuploads%2Fpr%2520articles%2F2025%2F02%2F14_2raenest.jpg&w=3840&q=75)
%2Fuploads%2Fpr%2520articles%2F2025%2F02%2F13_2affinityafrica.jpg&w=3840&q=75)
%2Fuploads%2Farticles%2F2025%2F0210_ssa-most-funded-startups-jan-25%2Fcover.jpg&w=3840&q=75)
