MiniPay in Africa: Financial Inclusion Across Kenya, Nigeria, and South Africa
“RZS 6(1): Financial Inclusion and Accessibility” - Our research examines how blockchain technology bridges financial gaps across Kenya, Nigeria, and South Africa.
The digital financial landscape across Africa is evolving at different paces and with varying patterns, driven by unique regional needs and existing infrastructure. A recent survey examining MiniPay usage across Kenya, Nigeria, and South Africa reveals fascinating insights into how these markets approach digital financial services while maintaining their distinct regional characteristics.
Why This Research Matters
Understanding the nuanced differences in digital financial services usage across African markets is critical for several reasons. First, as blockchain-based solutions expand across the continent, region-specific insights help ensure these innovations align with actual user behaviors and needs. Second, the findings can guide financial education efforts by highlighting service gaps unique to each market. Finally, these insights help bridge the gap between traditional banking infrastructure and emerging digital solutions, potentially accelerating adoption while respecting local preferences.
This research specifically examines Kenya, Nigeria, and South Africa—three markets with different financial ecosystems and at various stages of digital finance adoption. By comparing these contrasting landscapes, we gain valuable insights applicable to financial service development in other emerging markets worldwide.
Understanding the Markets
Respondent distribution across three African markets provides insights into regional financial inclusion challenges, with Kenya (54%) and Nigeria (42%) representing the majority of the sample.
Our analysis draws from a comprehensive survey of 50 individuals, with 54% from Kenya, 42% from Nigeria, and 4% from South Africa. While Kenya and Nigeria represent the larger samples, all three markets provide valuable insights into their respective regions across the continent.
MiniPay Accessibility Across Markets
Accessibility varies significantly across markets, with Nigerian users reporting the highest rates of full functionality (71.4%) while South Africans experience more limitations.
MiniPay’s accessibility shows interesting variations across the three markets. The platform demonstrates strongest accessibility in Nigeria, where 71.4% of respondents report full accessibility. Kenya follows with 63.0% reporting “very accessible” experiences. The limited South African sample indicates more challenges with accessibility, with none reporting “very accessible” experiences.
These regional variations could reflect differences in digital infrastructure, internet reliability, or MiniPay’s development focus across markets. Nigeria’s higher full accessibility rating suggests potential optimization for that market or superior underlying technological infrastructure.
Barriers to Usage
Network connectivity emerges as the primary barrier in Kenya (66.7%), while South African users unanimously cite cash withdrawal limitations as their main obstacle to frequent MiniPay usage.
Understanding what prevents more frequent usage of MiniPay reveals crucial infrastructure and service gaps. Network and internet connectivity issues represent the most significant barrier in Kenya (66.7%), compared to just 33.3% in Nigeria, highlighting regional differences in digital infrastructure.
South African respondents unanimously identify limited cash withdrawal points (100%) as their primary barrier, reflecting potential challenges in the cash-out ecosystem. Nigerian respondents report diverse barriers with significant concerns about “Other” issues (28.6%), primarily related to failed transactions.
The merchant acceptance challenge is similar across Kenya (25.9%) and Nigeria (28.6%), indicating a common ecosystem development need. High transaction fees are only a concern in Kenya (18.5%), suggesting potential pricing model variations or differences in fee transparency across markets.
Comparison to Traditional Services
MiniPay outperforms traditional financial services in Kenya and Nigeria, with 74.1% and 61.9% respectively describing it as “much more accessible and efficient” than established alternatives.
MiniPay is perceived as delivering superior accessibility compared to traditional services in both Kenya (96.3% reporting more accessible) and Nigeria (90.5%), though with greater enthusiasm in Kenya where 74.1% find it “much more accessible.” South African respondents are evenly split between “about the same” and “less accessible,” suggesting potential opportunity gaps in that market.
The overwhelmingly positive comparison in Kenya is particularly notable given the market’s established mobile money ecosystem (M-Pesa), suggesting MiniPay offers distinctive advantages even in a mature digital financial services environment.
Improvements to Financial Access
MiniPay’s impact on financial access varies by market, with Nigerians valuing digital currency access (71.4%) while Kenyans prioritize cross-border transfers (66.7%) and savings options (63.0%).
The ways in which MiniPay has improved financial access reveal important regional priorities. Cross-border capability emerges as a key benefit across all markets, with particularly strong recognition in Kenya (66.7%) and Nigeria (61.9%).
Nigeria shows stronger appreciation for access to digital currencies (71.4% vs. 51.9% in Kenya), suggesting potentially greater value of cryptocurrency access in that market. Improved savings options are highly valued in both Kenya (63.0%) and Nigeria (57.1%), indicating demand for alternatives to traditional banking products.
Processing speed and transaction fees benefits are more recognized in Nigeria than Kenya, potentially indicating greater inefficiencies in Nigeria’s traditional financial services. The multi-faceted improvements reported across markets suggest MiniPay successfully addresses multiple pain points in the African financial services landscape.
Stablecoin Benefits
Protection against currency instability drives stablecoin adoption in Nigeria (81%), while better savings options lead in Kenya (66.7%), reflecting different economic priorities.
The dramatic difference in valuing protection against currency instability between Nigeria (81.0%) and Kenya (40.7%) reflects the different currency stability situations in these economies, with the Nigerian Naira experiencing significant volatility. Stablecoins are valued as savings options across all markets (66.7% in Kenya, 61.9% in Nigeria), suggesting a common need for reliable value preservation.
International transaction facilitation is consistently appreciated across markets (51.9%-61.9%), highlighting the cross-border value proposition of MiniPay’s stablecoin offerings. The similar responses regarding merchant payment options (22.2%-23.8% in Kenya/Nigeria) indicate a common developing merchant ecosystem across these markets, with potential for greater merchant adoption.
Language Preferences
Swahili emerges as the overwhelmingly preferred language option for Kenyan users, highlighting the importance of local language support for financial inclusion.
Yoruba leads as the most requested language option in Nigeria (61.9%), with Hausa and Igbo also represented, reflecting the country’s linguistic diversity.
South African respondents unanimously select “Other” for language preferences, indicating demand for local languages beyond the primary options provided.
There is strong preference for major local languages in the primary markets, with Swahili (81.5%) dominant in Kenya and Yoruba (61.9%) leading in Nigeria. The South African respondents (100% selecting “Other”) specified preferences for Setswana and Shona, reflecting the country’s linguistic diversity.
The minimal overlap in language preferences highlights the regionalized nature of language requirements and the importance of market-specific localization strategies. Some respondents in both Kenya and Nigeria selecting “Other” noted that English is sufficient, suggesting a segment comfortable with the current language offering. French preference in Kenya (7.4%) may indicate cross-border interactions with francophone neighbors.
Device Usage
Android dominates as the platform of choice across all markets, with 100% usage in Kenya and 95.2% in Nigeria, reflecting the broader smartphone market dynamics in Africa.
Android dominates as the platform of choice across the primary markets, with 100% usage in Kenya and 95.2% in Nigeria, reflecting the broader smartphone market dynamics in Africa where Android devices are more affordable and prevalent. The small iPhone presence in Nigeria (4.8%) and higher representation in South Africa (50.0%) potentially indicates different economic demographics among users in these markets.
The absolute dominance of mobile access across all respondents confirms the mobile-first nature of financial services in Africa and validates MiniPay’s focus on mobile platforms. The lack of feature phone or desktop usage suggests MiniPay’s current user base is smartphone-centric, which may limit reach to certain economic segments without smartphone access.
Agent Network Importance
Physical agent networks remain highly valued across all markets, with face-to-face interactions particularly important in Kenya (48.1%) and South Africa (50%).
Physical agent networks remain highly valued across all markets, with 77.7% of Kenyan, 66.7% of Nigerian, and 100% of South African respondents rating them as at least “Important.” The stronger preference for face-to-face interactions in Kenya (48.1% vs. 28.6% in Nigeria) may reflect the deep entrenchment of M-Pesa’s agent network in Kenya’s financial ecosystem.
The digital-only preference is more pronounced in Nigeria (19.0%) than Kenya (14.8%), suggesting slightly greater comfort with purely digital financial services in Nigeria. The high importance placed on agent networks across markets indicates that despite MiniPay’s digital nature, physical touchpoints remain crucial for user confidence and complex transactions, suggesting a potential hybrid model for optimal market penetration.
Additional Services Desired
Cash infrastructure emerges as a priority across all markets, while micro-lending services show strong demand in Nigeria (38.1%) and Kenya (25.9%).
Cash infrastructure (deposit/withdrawal points) represents the most consistent service need across all markets, reinforcing the importance of cash-digital interoperability in Africa’s financial ecosystems. Micro-lending emerges as the second most requested service, with stronger demand in Nigeria (38.1%) than Kenya (25.9%), potentially indicating different credit accessibility contexts.
The limited interest in merchant payment tools (9.5-11.1%) suggests users currently value MiniPay more for personal financial management than commercial transactions. Bill payment services show significant variance between markets, with higher interest in South Africa (50.0%) than Kenya (7.4%). The “Other” responses from Nigeria (14.3%) included requests for cryptocurrency additions and merchant stablecoin acceptance, indicating interest in expanded digital currency functionalities.
Cross-Border Importance
Cross-border functionality is considered “Essential” by majority users in both Kenya (51.9%) and Nigeria (52.4%), highlighting its central value proposition.
Cross-border functionality is considered “Essential” by majority users in both Kenya (51.9%) and Nigeria (52.4%), highlighting its central value proposition. Over three-quarters of users in both major markets rate the feature as at least “Important,” indicating high current utilization.
South African respondents show more reserved interest, with 100% considering it “Somewhat important,” suggesting potential future need rather than current usage. The strong importance attached to cross-border capabilities in the primary markets indicates this is a core differentiator for MiniPay compared to some traditional financial services. The similarity between Kenyan and Nigerian valuation suggests common cross-border needs despite different financial ecosystems.
Cross-Border Use Cases
Business transactions (37%) lead Kenya’s cross-border payment needs, followed closely by family remittances (29.6%), revealing diverse international financial connections.
Nigeria shows a balanced mix of cross-border use cases, with business transactions (38.1%) leading, followed by family remittances (23.8%) and educational payments (14.3%).
South African respondents are evenly split between business transactions, family remittances, and receiving payments as valuable cross-border use cases.
Cross-border payment needs span both personal and professional contexts across all markets, with family remittances, educational payments, and business transactions emerging as common themes. Kenyan respondents show a distinctive emphasis on receiving payments from abroad and making subscription payments, highlighting their integration with global digital services.
Nigerian respondents emphasize sending money abroad and accessing international online services, potentially indicating different economic dynamics. The cross-border use cases reveal considerable inter-African transaction needs (Kenya-Nigeria, Nigeria-Ghana), suggesting value in regional financial integration beyond just connecting to global financial systems.
Missing Financial Services
Lending and credit services emerge as the most consistently requested missing functionality (29.4%), followed by currency conversion options (17.6%) and improved transaction reliability.
Lending and credit services emerge as the most consistently requested missing functionality across markets, indicating potential opportunity for MiniPay to expand into credit products. On/off-ramping challenges (converting between fiat and digital currencies) appear across all markets but with different emphases – Kenya focuses on conversion to stablecoins, Nigeria on withdrawal to local currency, and South Africa on speed of conversions.
Transaction reliability is a particular concern in Nigeria, with multiple mentions of failed transactions needing resolution. The responses reveal market-specific gaps: Kenya has more requests for physical infrastructure while Nigeria shows stronger interest in expanded digital currency options and merchant acceptance. These regional differences in missing services highlight the need for market-specific product roadmap priorities.
Trust Factors
Security features drive trust in Kenya (40%), while South Africans prioritize partnerships with traditional banks (50%), revealing market-specific trust dynamics.
Security emerges as the primary trust concern in Kenya (48.1%), while Nigerian respondents place greater emphasis on regulatory compliance (28.6%). The significant difference in prioritizing bank partnerships (3.7% in Kenya vs. 19.0% in Nigeria and 50.0% in South Africa) suggests varying degrees of trust in traditional financial institutions across markets.
Physical presence remains important for trust building in both primary markets (14.8% in Kenya, 19.0% in Nigeria), indicating digital-only operations may have limitations for some user segments. The “Other” responses included several users who indicated they already trust MiniPay, particularly in Kenya. Transparency is a unique concern in Kenya (11.1%), suggesting potential differences in MiniPay’s market communication effectiveness. These trust factors highlight the importance of market-specific trust-building strategies that address the distinct concerns in each region.
Challenges in Accessing Financial Services
Failed transactions emerge as the most common challenge across markets, followed by long queues/waiting times and high fees, illustrating the pain points MiniPay addresses.
Traditional financial services pain points differ by market: Kenya’s challenges focus on physical inconvenience (queues) and currency conversion difficulties, while Nigeria’s challenges emphasize trust, reliability, and currency instability issues. The high mention of currency conversion challenges across markets indicates a common pain point that MiniPay’s stablecoin offerings directly address.
Trust and security concerns appear more prominently in Nigeria, aligning with the higher prioritization of regulatory compliance for trust-building in that market. The challenges reported provide context for MiniPay’s value proposition in each market – addressing queues and waiting times in Kenya, providing stability against currency devaluation in Nigeria, and offering cryptocurrency access in South Africa. These baseline challenges help explain the varying adoption patterns and value perceptions across markets.
Looking Ahead
These findings suggest several key considerations for MiniPay and other digital financial services providers:
- Market-Specific Approaches: One-size-fits-all financial solutions are unlikely to succeed across all African markets
- UI/UX Design: Interface design should account for varying levels of digital financial literacy and preferred access methods
- Feature Prioritization: Development roadmaps might prioritize different features in each market based on usage patterns
- Integration Strategy: Solutions should consider the dominant financial channels in each region
- Education: Financial literacy efforts should address the specific gaps in each market while building on existing behaviors
The financial service landscape in Africa continues to evolve, with Kenya, Nigeria, and South Africa showing different but equally valid paths to financial inclusion. Understanding these differences and similarities is crucial for any organization looking to contribute to Africa’s financial future through blockchain-based solutions like MiniPay.
Methodology and Data Collection
This analysis draws from survey data collected specifically from respondents in Kenya, Nigeria, and South Africa, with a sample size of 50 individuals (27 from Kenya, 21 from Nigeria, 2 from South Africa). The survey focused on understanding current financial behaviors, preferences, and needs across multiple dimensions of digital financial service usage.
The different digital finance preferences highlight distinct market structures and consumer behaviors across these regions. Kenyan respondents demonstrate stronger mobile money integration, while Nigeria shows a more balanced approach between traditional and digital services. South Africa, despite its small sample, provides valuable comparative insights. These contrasting patterns provide valuable insights for financial service providers seeking to develop solutions tailored to each market’s unique characteristics.
Please note that this particular survey was conducted between Thursday 13th March and Friday 21st, 2025, and it was collected from MiniPay users with active Celo wallet addresses. They were compensated 3,000 G$ (GoodDollar token) each, and the address to the smart contract distributing the rewards was/is 0x18bD5146EE12D3Ae3c1f5114678bd6B1De46BB56.
This blog post was developed based on comprehensive survey data and was reviewed and edited by our research team.