Expo Real contracts africon GmbH to explore real estate opportunities in Nigeria

The large real estate fair by Messe Munich called “Expo Real” has contracted africon GmbH in exploring opportunities in the Nigerian real estate sector. africon was tasked with gathering contacts in the real estate market, provide market intelligence on the real estate market and organize a business trip for the fair director Ms. Boymanns meeting key personnel of large real estate companies, banks and developing companies. For the second time, Expo Real has given special focus to Sub Saharan Africa with the real estate sector showing great potential.

 

Expo Real with almost 40.000 participants will be able to bring together stakeholders in the property and real estate sector to discuss the latest trends and access first-hand information on the industry. Nigerian companies participating in the expo, stand to gain from meeting international investors and bringing in more international capital into Nigeria’s booming real estate sector.

 

Expor Real Erik Expo Real Nigeria

Slide of the month July – Payment cards in Nigeria

The slide of the month July shows continuous growth of more than 20% in payment cards for Nigeria. At the moment the total market has got about 42 million cards according to various sources. The major share of payment cards in Nigeria are debit cards with almost 98%. Credit cards have not been popular in the market. Verve, a national payment scheme still holds the strongest position however with sincere competition from Mastercard. The bank with the most cards in the market is First Bank, followed by UBA and Ecobank.

At the moment the following trends can be observed:

  1. Strong marketing activities to push China Union Products to come by end of 2016
  2. Mobile solutions on the rise with payment cards being a commodity product
  3. Growth in agent networks resulting in the need for more solutions

Over the past 2 years africon has developed a strong understanding of the Nigerian payment cards market and would be happy to answer all questions on info@africon.de.

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