1 04/08/2016

New solutiosn e.g.

Masterpass might reduce cards growth?

Cards in Nigeria

Over 20% CAGR growth in Nigeria since 2010. New

solutions in the market might reduce growth over time.

Debit 98%

Credit 1,4%

44% Local

36%

10% 8%

1%

1%

Debit cards

Key banks in Nigeria (Number of cards in m)

Main switches

42 million cards in the

market

Company Market share

Interswitch 60%

Unified payment 25 %

NIBBS 15%

First Bank

UBA

Ecobank

GTB

Diamond

16 17 20

24

32

41

81.4

0

10

20

30

40

50

60

70

80

90

2010 2011 2012 2013 2014 2016 2018

CAGR +20,71%

7

6,2

6

5,4

5

Cards growth in Nigeria (in m)

Sou

rce

: Exp

ert

Inte

rvie

w N

IBSS

(20

15),

RB

R A

nal

ysis

(20

14),

Mai

l an

d G

uard

ian

(201

6)

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Mo

od

ys e

stim

ate

s