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CrowdLending (Business) - Niger

Niger

The total transaction value in the Crowdlending (Business) market market in Niger is expected to hit US$0.0 by 2024.
When comparing globally, China is projected to achieve the highest transaction value, reaching US$15,970m in 2024.
In Niger, CrowdLending is gaining traction as a viable alternative for local businesses to raise capital in the challenging financial market landscape.

Key regions: United States, Singapore, Brazil, Europe, Germany

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Analyst Opinion

The CrowdLending (Business) market in Niger is experiencing steady growth due to several factors.

Customer preferences: In Niger, business owners are increasingly turning to CrowdLending platforms as a source of financing for their ventures. This preference is driven by the convenience and accessibility offered by online lending platforms. Entrepreneurs can easily apply for loans from the comfort of their homes or offices, without the need for extensive paperwork or long waiting periods. Additionally, CrowdLending platforms often offer competitive interest rates and flexible repayment terms, making them an attractive option for small and medium-sized enterprises (SMEs) in Niger.

Trends in the market: One of the key trends in the CrowdLending market in Niger is the rise of peer-to-peer lending platforms. These platforms connect borrowers directly with individual lenders, bypassing traditional financial institutions. This trend is driven by the desire for greater transparency and lower costs. Peer-to-peer lending platforms also allow lenders to diversify their investment portfolios and potentially earn higher returns compared to traditional investment options. As a result, these platforms are gaining popularity among both borrowers and lenders in Niger. Another trend in the market is the emergence of specialized CrowdLending platforms catering to specific industries or sectors. For example, there are platforms that focus exclusively on financing agricultural projects or renewable energy initiatives. These specialized platforms understand the unique needs and challenges of these industries, and are able to provide tailored financing solutions. This trend reflects the growing demand for sector-specific financing options in Niger, as businesses seek funding that aligns with their specific goals and objectives.

Local special circumstances: Niger is a country with a high concentration of SMEs, which are the backbone of its economy. However, these businesses often face challenges in accessing traditional financing from banks due to stringent requirements and high collateral demands. CrowdLending platforms provide an alternative source of funding for these businesses, enabling them to grow and thrive. The government of Niger has also recognized the importance of SMEs in driving economic growth, and has introduced policies and initiatives to support their development. This favorable environment for SMEs has further contributed to the growth of the CrowdLending market in Niger.

Underlying macroeconomic factors: Niger is experiencing steady economic growth, driven by sectors such as agriculture, mining, and services. This positive economic outlook creates a conducive environment for business expansion and investment, leading to increased demand for financing. Additionally, the country has a young and growing population, which presents opportunities for entrepreneurship and business development. As more individuals venture into business ownership, the demand for financing options such as CrowdLending is expected to continue rising. In conclusion, the CrowdLending (Business) market in Niger is growing steadily due to customer preferences for convenient and accessible financing options, as well as the emergence of peer-to-peer lending platforms and specialized financing solutions. The favorable environment for SMEs and the positive macroeconomic factors in Niger further contribute to the growth of the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.