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# Africa’s Banked Population To Hit 400 Million By 2021
- URL: https://www.techloy.com/africas-banked-population-to-hit-400-million-by-2021/
- Published: 2020-02-27T00:00:00.000Z
- Updated: 2022-11-17T17:53:17.000Z
- Author: Techloy
- Tags: / Insights, Chartbox

With the current population of Africa estimated to be over 1.3 billion, based on the latest United Nations estimates, the continent’s banking landscape has been experiencing a steady growth in the number of people becoming banked. 

As of 2018, when Africa’s population reached 1.3 billion, there were over 300 million banked Africans, representing 24% of the continent’s total population, according to [data from McKinsey&Company](https://www.mckinsey.com/industries/financial-services/our-insights/african-retail-bankings-next-growth-frontier). 

By 2022, it is estimated that there would be 436 million banked Africans, representing about one-third of the continent’s estimated population of 1.4 billion by 2022\. 

This **Techloy* chart tracks Africa’s banked population from 2012 to 2022, based on data from EFInA, Finscope, FSD Kenya, McKinsey Global Banking Pools, and the World Bank Findex.

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2022/11/1_B9007gEdrzzrDXNv8l6f1Q.png)

Chart by [Loy Okezie](https://www.techloy.com/author/loy/) / [Techloy.com](https://techloy.com/)