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Marketplace Lending (Consumer) - Angola

Angola

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Angola is expected to hit US$0.0 by 2024.
In a global context, the United States leads with a projected transaction value of US$26,720m in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of the country, shedding light on market-specific trends.
These indicators, along with information from statistical bureaus, trade bodies, and enterprises, underpin the Statista market forecasts.
Angola's consumer marketplace lending sector is experiencing a surge in capital raising activities, driven by increasing demand for alternative financing solutions.

Key regions: United Kingdom, United States, China, Brazil, Australia

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Analyst Opinion

The Marketplace Lending (Consumer) market in Angola is experiencing significant growth and development. Customer preferences in the marketplace lending market in Angola are largely driven by the convenience and accessibility of online platforms.

Consumers are increasingly turning to marketplace lending platforms for their borrowing needs due to the ease of application and quick approval process. Additionally, the flexible repayment options offered by these platforms are appealing to borrowers who may not qualify for traditional bank loans. Trends in the market show a shift towards digitalization and the adoption of technology in the lending process.

Online marketplace lending platforms are gaining popularity as they provide a streamlined and efficient borrowing experience. This trend is driven by the increasing internet penetration and smartphone usage in Angola, making it easier for consumers to access these platforms. Furthermore, the marketplace lending market is witnessing the emergence of new players and innovative business models, which are further fueling the growth of the industry.

Local special circumstances in Angola contribute to the development of the marketplace lending market. The country has a large unbanked population, with limited access to traditional financial institutions. Marketplace lending platforms provide an alternative source of financing for these individuals, allowing them to access credit and meet their financial needs.

Additionally, the high interest rates charged by traditional banks in Angola make marketplace lending platforms an attractive option for borrowers looking for more affordable and accessible loans. Underlying macroeconomic factors also play a role in the growth of the marketplace lending market in Angola. The country has experienced economic challenges in recent years, including a decline in oil prices and currency devaluation.

These factors have led to a tightening of credit conditions and reduced lending by traditional banks. As a result, consumers are increasingly turning to marketplace lending platforms as a viable alternative for obtaining credit. In conclusion, the Marketplace Lending (Consumer) market in Angola is developing rapidly due to customer preferences for convenience and accessibility, the adoption of technology in the lending process, local special circumstances, and underlying macroeconomic factors.

This market is expected to continue to grow as more consumers recognize the benefits of marketplace lending platforms and as the industry continues to innovate and expand.

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.