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High ATM growth in MEA

January 26, 2018
The Middle East and Africa region has been experiencing the highest growth in ATM deployments largely due to financial inclusion efforts by governments.
Communication Team / Equipo de Comunicación

This post is also available in: Spanish

Despite being one of the banking sector’s smallest markets, the Middle East and Africa (MEA) region has been experiencing noteworthy growth. Indeed, the ATM market grew 9% in 2016, three times as much as the rest of the globe.

This is largely due to recent government efforts to promote financial inclusion in a region that is known to have a wide divide between the banked and the unbanked. Countries that have been particularly active in trying to get citizens to open bank accounts are Egypt, Morocco, Nigeria and Saudi Arabia.

The increase in cardholders is particularly staggering with only 0.8 adults with a card back in 2010 compared to 1.8 in 2016 – yet these numbers must be taken with a pinch of salt as they are mostly skewed by Iran that records an astounding 6.1 cards per adult. Egypt and Nigeria have the lowest card penetration rates.

“The growth in card numbers is driving an increase in the ATM installed base […] the net growth of 16,200 ATMs in 2016 was the second highest ever recorded, after 2009 when over 20,000 machines were installed[i].”

As a result, ATM cash withdrawals in 2016 grew by 4%, Iran being at the head of the charts where 43% of withdrawals take place.

 



[i] Financial inclusion at the heart of growth in MEA banking; Banking Automation Bulletin  (Issue 367: December 2017), p.2

This post is also available in: Spanish

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