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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
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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.
