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Marketplace Lending (Consumer) - Mauritius

Mauritius

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Mauritius is projected to reach US$2.46m in 2024.
When compared globally, it is evident that the highest transaction value is expected to be reached the United States (US$27,720m in 2024).
Key Market Indicators offer a snapshot of the social and economic landscape of Mauritius, shedding light on pertinent market-specific advancements.
These indicators, along with information from statistical offices, trade associations, and companies, form the basis for the Statista market models.
Mauritius is experiencing a growing trend in Marketplace Lending (Consumer) as investors seek alternative capital raising opportunities in the evolving financial landscape.

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

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Analyst Opinion

The Marketplace Lending (Consumer) market in Mauritius has been experiencing significant growth in recent years.

Customer preferences: Mauritian consumers are increasingly turning to marketplace lending as an alternative to traditional banking channels. This is driven by several factors, including the convenience and accessibility of online lending platforms, as well as the speed at which loans can be approved and disbursed. Additionally, marketplace lending offers borrowers more flexible terms and interest rates compared to traditional banks, making it an attractive option for those seeking financing.

Trends in the market: One of the key trends in the marketplace lending market in Mauritius is the rise of peer-to-peer (P2P) lending platforms. These platforms connect borrowers directly with individual lenders, cutting out the middleman and reducing costs. P2P lending has gained popularity in Mauritius due to its ability to provide loans to individuals who may have difficulty accessing credit through traditional channels. This has created a more inclusive lending environment, allowing individuals with lower credit scores or limited collateral to obtain financing. Another trend in the marketplace lending market in Mauritius is the increasing use of technology and data analytics in the lending process. Lenders are leveraging technology to streamline the loan application and approval process, making it faster and more efficient. Data analytics is also being used to assess creditworthiness and determine loan terms, allowing lenders to make more informed lending decisions. This trend is expected to continue as technology continues to advance and lenders seek to improve their risk management capabilities.

Local special circumstances: Mauritius is a small island nation with a population of approximately 1. 3 million people. The country has a relatively high level of financial inclusion, with a large percentage of the population having access to banking services. However, traditional banks in Mauritius have been known to have strict lending criteria, making it difficult for some individuals to obtain credit. This has created a gap in the market, which marketplace lending platforms have been able to fill.

Underlying macroeconomic factors: The growth of the marketplace lending market in Mauritius is also influenced by underlying macroeconomic factors. The country has a stable economy with low inflation and a strong regulatory framework, which provides a favorable environment for lending activities. Additionally, the government of Mauritius has been supportive of the fintech sector, recognizing its potential to drive economic growth and financial inclusion. This has resulted in the development of a conducive regulatory environment for marketplace lending platforms, further fueling their growth. In conclusion, the Marketplace Lending (Consumer) market in Mauritius is experiencing rapid growth due to changing customer preferences, the rise of P2P lending platforms, the increasing use of technology and data analytics, as well as local special circumstances and underlying macroeconomic factors. As the market continues to evolve, it is expected to play an increasingly important role in meeting the financing needs of individuals in Mauritius.

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.