General News
Africa’s Shared Mobility Market to Double by 2030
The size of Africa’s shared mobility market is forecast to double by 2030, to reach $8 billion (R147 billion), and create an additional 550 000 income-earning opportunities on the continent.
This is according to a new report from global management consultancy Oliver Wyman, titled ‘Shared Mobility’s Global Impact’, supported by data made available by global e-hailing operator, Bolt.
The study highlights the current and potential economic, social, and environmental impact of the evolving shared mobility sector globally.
According to the report, Africa’s shared mobility sector – which includes services like ride-hailing, scooter or e-bike rentals, and car-sharing – is set to see the second fastest growth after Asia, driven by rapid urbanisation and a rising middle class.
The study highlights the sector’s growing impact on city economies. Currently worth $4.2 billion, the sector is set to be worth $7.8 billion by 2030. That growth will help drive important income opportunities on the continent, the majority of which are within ride-hailing driving, it says.
African e-hailing drivers earn well above wages in comparable jobs in Africa (up to +130% in South Africa and Nigeria), it states.
The study also highlights the sector’s role in supplying affordable and accessible transport, particularly in African countries where car ownership remains inaccessible to many.
“Shared mobility is set to rise from 3% to 7% of global journeys by 2030,” says Dr Andreas Nienhaus, partner, automotive and mobility, climate and sustainability at Oliver Wyman.
“The African market is the most interesting we study. It retains significant challenges, but shared mobility can support ongoing infrastructure development to radically change the journey mix.
“Beyond its economic and social impacts, the report also highlights the key role that shared mobility could play in building a sustainable future, particularly in the urban environments where shared mobility services are most prevalent.”
Over the last few years, ride-hailing services in Africa gained popularity, with more customers ditching their private or public modes of transport due to mobility-sharing advantages such as convenience, reduced travel costs, less traffic congestion and lower emissions.
According to the study, more than nine million people globally are estimated to earn an income from shared mobility services in 2023, and the number is forecast to grow to 16 million by 2030.
Asia (including the Middle East) accounts for 71% of the jobs, while Africa has the strongest growth: jobs are expected to increase by 113% from 2023 to 2030.
Ride-hailing drivers typically earn above the minimum wage in Europe (+37% in Berlin and +91% in Tallinn) and above the wages for jobs with comparable skill levels in Africa (up to +130% in South Africa and Nigeria).
The study further underlines the need for shared mobility to complement continued improvement in transport infrastructure in African cities.
“Some of the improvements recommended include data sharing between operators and authorities, investment in road infrastructure to enable the launch of bike sharing, and the opportunity for shared mobility operators to support vehicle purchasing schemes and electrification of fleets.”
Nigeria’s Buy Now, Pay Later (BNPL) market is on a fast-growing trajectory and is predicted to be valued $2.61 billion by 2030, up 83% from $1.42 billion in 2024, owing primarily to the rapid emergence of fintechs in the country.
This observation was stated in EnterpriseNGR’s State of Enterprise 2025 report, which focuses on how fintechs are reshaping Nigeria’s business landscape through digital innovations, accessible credit systems, and mobile-first financial tools.
As a credit system, BNPL allows users to stagger payments for products and services, making it a key development driver in Nigeria’s developing digital economy.
From 2021 to 2024, the BNPL experienced a compounded annual growth rate of 23.1%. Fintechs have contributed to the rapid growth by providing a range of flexible loan alternatives for e-commerce, retail, and services, bridging financial gaps for millions of disadvantaged Nigerians.
The report highlights how fintechs have contributed to Nigeria’s flexibility and resiliency by simplifying digital payments, automating invoicing and payroll systems, and democratising credit through platforms such as Renmoney and FairMoney.
The report also shows a significant rise in remittance inflows into Nigeria following the Central Bank of Nigeria’s 2024 policy adjustments.
According to the report, by 2024, Nigeria boasted over 400 licensed digital lenders who extend collateral-free credit to those commonly excluded by banks.
The Nigeria Immigration Service (NIS) strengthened bilateral relations with the Netherlands’ government through an agreement targeted at improving migration governance and border security.
This partnership was confirmed during a meeting at the NIS headquarters in Abuja, which was attended by a Dutch team led by Jurgen Bartelink, Chargé D’Affaires of the Embassy of the Netherlands in Nigeria.
The meeting focused on increasing bilateral migration cooperation and came after the comptroller general of Immigration, Kemi Nandap, paid a working visit to the Netherlands.
Under the agreement, the Dutch government pledged to continue supporting technology-driven solutions targeted at boosting Nigeria’s border control systems and improving migration management.
During the Netherlands Embassy diplomats handed over essential operational tools, such as Edison Software licence keys and the Passport Examination Programme Manual App.
According to NIS spokeswoman ACI Akinsola Akinlabi, “The partnership focuses on enhancing bilateral collaboration on migration management and reviewing ongoing capacity-building efforts.”
Bartelink, Chargé d’Affaires of the Netherlands Embassy in Nigeria, underlined the Netherlands’ commitment to helping Nigeria’s continuing border security and migration reforms.
Also speaking, Rob Bokhoven, head of international affairs, repatriation, and deportation services at the Dutch Ministry of Justice and Security, emphasised the country’s strong bilateral relations and announced plans to share a mobile border software solution with the NIS.
Receiving the equipment, Nandap said the delivery of the gadgets would boost West African country’s border security, significantly improve the service’s document verification border management capabilities and support the implementation of Nigeria’s National Migration Policy.
“The engagement will further reinforce the strategic partnership between Nigeria and the Netherlands advancing shared goals in migration governance, border security and international cooperation,” she added.
Peter Enogb, principal country economist, African Development Bank (AfDB), says the rise in global uncertainty, emanating from increases in global trade tariffs, has slowed Nigeria’s projected growth to 3.2% in 2025.
“Without this level of heightened uncertainty, our projections would probably have been somewhat higher. We’ve reduced our projections for Nigeria. We initially were projecting 3.5% – 3.6% growth in 2025.
“But given the current situation, our models are showing that we’re taking a more cautious approach. So that’s why we produced this and, of course, the main driver is uncertainty in the global economy,” Enogb said.
He said this at the launch of the 2025 Nigeria Country Focus Report (CFR) on Thursday.
AFDB projected that real GDP growth would hit 3.1% in 2026. Following the 2024 consumer price index (CPI) rebasing, with lower weights for food items, the inflation rate is expected to reduce over the medium term to 24.7% in 2025 and 17.3% in 2026.
As imports start to rise over the medium term, the current account is projected to decline to 3.9% of GDP in 2026.
The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation slowed for the second consecutive month to 22.97% in May. This is down from 24.48% at the start of the year
This is contrary to the World Bank projection that Nigeria’s economy would record steady growth of 3.6% despite the shift in the global trade dynamics.
Joseph Ogebe, head of research and development at Nigerian Economic Summit Group (NESG), also said that global uncertainty had been very high in recent times, resulting from the Trump 2.0 effect.
“And also with the recent war between Israel and the international community, we’ve seen what’s happening to oil prices. Even with the call-off of the war, we’ve seen the effect on oil prices too, which has implications on the fiscal side. So it has implications for the general economy,” he said.
The head of research at NESG said that rather than focusing on just growth, what should be looked at is a strategy called growth with depth.
“Growth with depth means that your growth must be diversified, export-led, productive, and technologically driven,” he said.
Ogebe said that if the Government works towards adopting a strategy of growth with depth, there is a tendency for the government to move towards its goal of achieving a $1 trillion economy by 2030.
The report revealed that the country’s recent policy moves, including fuel subsidy removal, exchange rate unification, and tax reforms, reflect a commitment to long-term transformation.
However, it also pointed out that at about 13%, Nigeria’s tax-to-GDP ratio is among the lowest in West Africa, noting that fiscal reforms are urgent.
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