In an earlier Techloy infographic, we highlighted the largest retail banking markets in Africa, with South Africa expected to account for $4 billion in absolute retail revenue growth, by 2022, while other leading growth markets will include Egypt, Nigeria, Morocco, Ghana, and Kenya.

In this chart, we examine Africa’s banking revenues, which are expected to reach $129 billion (before risk cost) by 2022 from $86 billion in 2017, representing an annual growth rate of 8.5%, according to a 2018 report by McKinsey&Company.