The gift card market in Africa is expected to grow by 12.7% on annual basis to reach US$5.28 billion in 2025.
The gift card market in the region experienced robust growth during 2020-2024, achieving a CAGR of 14.3%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 11.2% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 4.69 billion to approximately USD 8.07 billion.
This report provides a detailed data-centric analysis of the gift card sector in Africa, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the regional and country level, this report provides a comprehensive understanding of gift card market dynamics.
It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.
The publisher’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
The gift card market in the region experienced robust growth during 2020-2024, achieving a CAGR of 14.3%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 11.2% during 2025-2029. By the end of 2029, the gift card sector is projected to expand from its 2024 value of USD 4.69 billion to approximately USD 8.07 billion.
This report provides a detailed data-centric analysis of the gift card sector in Africa, covering market opportunities and risks across consumer segments (retail and corporate); product categories; retail sectors; and store formats. With over 100+ KPIs at the regional and country level, this report provides a comprehensive understanding of gift card market dynamics.
It offers a comprehensive analysis of market dynamics in the gift card sector, segmented by digital and e-gift card sales, distribution channels, key occasions, demographic trends, and market share statistics of leading retailers. In addition, it provides a snapshot of consumer behaviour and retail spending dynamics. KPIs in both value and volume terms help in getting an in-depth understanding of end market dynamics.
The publisher’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
This title is a bundled offering, comprising 1 regional and 4 country reports:
- Regional Report - Africa Gift Card and Incentive Card Market Intelligence (Databook)
- Country Report 1 - Nigeria Gift Card and Incentive Card Market Intelligence (Databook)
- Country Report 2 - Egypt Gift Card and Incentive Card Market Intelligence (Databook)
- Country Report 3 - Kenya Gift Card and Incentive Card Market Intelligence (Databook)
Key Insights
The African gift card market is transforming significantly, driven by digital innovation, increasing mobile penetration, and evolving consumer behaviors. Unlike other regions, Africa's gift card industry is shaped by the rise of mobile wallets, fintech-driven payment solutions, and cross-border remittances. Businesses integrate gift cards into their loyalty programs, while retailers leverage them as key payment tools in a growing digital commerce landscape.Digital and E-Gift Cards Surpassing Physical Cards
- Digital gift cards are gaining momentum as consumers seek fast, flexible, secure gifting options. South African retailers such as Pick n Pay and Woolworths have expanded their digital gift card offerings to cater to online shoppers.
- Mobile-first economies across Africa are fueling the growth of e-gift cards, with fintech firms integrating them into mobile payment platforms such as M-Pesa and Flutterwave.
- Digital gift cards are widely used for online purchases, gaming, and streaming services, making them a key part of Africa's evolving digital economy.
Integration with Mobile Wallets Enhancing Accessibility
- The widespread adoption of mobile wallets in Africa has accelerated the integration of gift cards into platforms such as M-Pesa, Airtel Money, and MTN MoMo, providing users with instant digital transactions.
- Fintech companies like Chipper Cash and OPay partner with retailers to facilitate seamless mobile gift card transactions in Nigeria.
- Cross-border remittances are increasingly being facilitated through mobile wallet-enabled gift cards, allowing users to send prepaid value across borders without needing cash transactions.
Corporate and Employee Incentive Programs Expanding
- Companies in Africa are integrating gift cards into employee benefits programs, offering them as flexible rewards for incentives and performance recognition.
- Large corporations in South Africa and Kenya have partnered with digital payment firms to distribute prepaid gift cards for employee bonuses, wellness programs, and loyalty initiatives.
- The gig economy is also fueling demand for gift cards as alternative payment solutions for freelancers and independent contractors.
Fintech Innovations Driving Gift Card Expansion
- Africa's fintech boom has led to the introduction of innovative gift card solutions, including prepaid virtual cards for e-commerce and gaming.
- Flutterwave recently expanded its digital store offerings to include global and local gift cards, increasing accessibility for African consumers purchasing international brands.
- Blockchain technology in Nigeria's financial ecosystem enables secure and fraud-resistant gift card transactions, reducing concerns over card duplication and fraudulent activities.
Growing Popularity of Gaming and Subscription-Based Gift Cards
- There is a rising demand for gaming and entertainment-related gift cards in Africa, fueled by increasing internet penetration and digital entertainment consumption.
- Gift cards for PlayStation, Netflix, and Spotify are among the most sought-after options, with platforms like CryptoRefills allowing users to purchase them using cryptocurrency.
- Retailers in Egypt and South Africa are leveraging the growing digital lifestyle trend by offering exclusive subscription-based gift cards for streaming services and gaming platforms.
Competitive Landscape of the African Gift Card Market
The African gift card market is becoming increasingly competitive, with a mix of traditional retailers, fintech startups, and digital payment providers shaping the industry. Unlike in Europe and North America, where sustainability is dominant, Africa's market is influenced by digital payment adoption and the rise of alternative financial services.Key Market Trends and Players
- Retailer-Branded Gift Cards: Major retailers in South Africa, such as Shoprite and Pick n Pay, have launched gift card programs, driving adoption through physical and digital channels.
- Fintech Disruption: Companies like Chipper Cash, Flutterwave, and Yellow Card are integrating gift card functionality into their platforms, enabling seamless payments across multiple sectors.
- Cross-Border Usability: International brands such as Amazon and Apple are expanding gift card acceptance across African markets, increasing the availability of global products for local consumers.
Recent Developments and Strategic Partnerships
- Pick n Pay's Digital Expansion: South Africa's Pick n Pay expanded its digital gift card offerings, allowing customers to purchase and redeem them online, improving the convenience of mobile-first consumers.
- Flutterwave's Global Gift Card Store: The fintech giant expanded its digital store services to include a broader range of gift cards, offering African consumers access to international brands.
- M-Pesa and Airtel Partnership: These mobile payment providers have integrated prepaid gift card functionality into their platforms, further cementing the role of digital payments in Africa's retail and financial landscape.
Outlook for the Next 2-4 Years
- Digital gift cards will dominate as e-commerce and mobile payment adoption continue accelerating across Africa.
- Corporate gifting and loyalty programs will expand, with businesses integrating prepaid gift cards into incentive and engagement strategies.
- Fintech companies will drive market expansion, leveraging blockchain and AI for enhanced security and fraud prevention in digital transactions.
- Gaming and entertainment gift cards will grow further, fueled by Africa's increasing demand for digital content and subscription services.
- Regulatory oversight will strengthen, ensuring greater transparency and consumer protection in the growing digital gift card sector.
Scope
This report provides in-depth, data-centric analysis of africa gift card industry through 400+ tables and 1120+ charts, across 4 countries and overall region. Below is a summary of key market segments at regional and country level.Total Spend on Gifts
- By Consumer Segment (Retail and Corporate)
- By Product Categories (13 Segments)
- By Retail Sectors (7 Segments)
Gift Card Market Size by KPIs across Consumer Segments
- Gross Load Value
- Transaction Value
- Unused Value
- Average Value Per Transaction
- Transaction Volume
- Average Value of Card Purchased
- Number of Cards
Gift Card Market Size by Consumer Segment
- Retail Consumer
- Corporate Consumer (Small Scale, Mid-Tier, Large Enterprise)
Digital Gift Card Market Size
- By Retail Consumer
- By Retail Purchase Occasion
- By Corporate Consumer
- By Corporate Purchase Occasion
- By Company Size
Gift Card Market Size by Retail Consumer
- By Functional Attribute
- By Occasion
- Festivals & Special Celebration Days
- Milestone Celebration
- Self-Use
- Other
- Value by Purchase Channel
Gift Card Spend by Consumer Behavior and Demographics
- Consumer Purchase Behaviour
- Gift Card Buyer by Age Group
- Gift Card Buyer by Income Level
- Gift Card Buyer by Gender
Gift Card Market Size by Corporate Consumer
- By Functional Attribute
- By Occasion
- Employee Incentive
- Sales Incentive
- Consumer Incentive
- By Scale of Business
Gift Spend by Product Categories (Split by Retail and Corporate Consumers)
- Food & Beverage
- Health, Wellness & Beauty
- Apparel, Footwear & Accessories
- Books & Media Products
- Consumer Electronics
- Restaurants & Bars
- Toys, Kids, and Babies
- Jewelry
- Sporting Goods
- Home & Kitchen Accessories & Appliances
- Travel
- Entertainment & Gaming
- Other
Gift Card Spend by Retail Sector (Split by Retail and Corporate Consumers)
- Ecommerce & Department Stores
- Restaurants & Bars
- Supermarket, Hypermarket, Convenience Store
- Entertainment & Gaming
- Specialty Stores
- Health & Wellness
- Travel
Gift Card Spend by Distribution Channel (Split by Retail and Corporate Consumers)
- Gift Card Online Sales
- Gift Card Offline Sales
- 1st Party Sales
- 3rd Party Sales
- Sales Uplift
Gift Card Purchase by Payment Method
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- BNPL & Other Digital Payment
- Cash
Market share by retailers for key countries (20 retailers)
Reasons to buy
- Comprehensive comprehension of the dynamics of the gift card and incentive card markets: Recognise the opportunities in the market, the main drivers and trends, and the five-year projection for gift and incentive cards in Africa.
- Create strategies tailored to the market: To create your gift card strategy, identify growth categories and target particular opportunities across consumer segments and occasions; evaluate important trends and risks unique to your market.
- Learn about the attitudes and behaviours of consumers in Africa: Increase ROI by understanding how consumer attitudes and behaviours are evolving. With gift cards, you may obtain comprehensive information about retail spending for both corporate and retail customers.
- Six key performance indicators (KPIs) provide a comprehensive view: the quantity of cards in circulation, load value, unused value, average purchase value, average value per transaction, and transaction value.
- Distribution channel insights: Recognise the differences in gift card sales across online and offline channels as well as between first-party and third-party sales.
Table of Contents
1 About this Report
2 Total Gift Spend Analyzer
3 Retail Consumer Gift Spend Analyzer
4 Corporate Consumer Gift Spend Analyzer
5 Gift Card Spend Analyzer
6 Digital Gift Card Spend Analyzer
7 Gift Card Spend Share by Demographics and Purchase Behaviour
8 Retail Consumer Gift Card Spend Analyzer
9 Retail Consumer Gift Card Spend Analysis by Functional Attribute
10 Retail Consumer Gift Card Spend Analysis by Occasion
11 Corporate Consumer Gift Card Spend Analyzer
12 Corporate Consumer Gift Card Spend Analysis by Functional Attribute
13 Corporate Consumer Gift Card Spend Analysis by Occasion
14 Corporate Consumer Gift Card Spend Analysis by Company Size
15 Corporate Consumer Gift Card Spend Analysis by Company Size X Functional Attribute
16 Gift Card Spend Analysis by Distribution Channel
17 Gift Card Spend Analysis by Retail Sector
18 Retail Consumer Gift Card Spend Analysis by Retail Sector
19 Corporate Consumer Gift Card Spend Analysis by Retail Sector
20 Further Reading
List of Tables
List of Figures
Companies Mentioned
- kazyon
- Omar Effendi
- Ragab Sons
- BIM
- Metro Market
- Spinneys
- Kheir Zaman
- RadioShack
- Carrefour Hypermarket (Franchises)
- Fathalla
- Spar
- Pick n Pay
- Shoprite
- Checkers - All Brands
- Woolworths Food
- Pep
- Dis-Chem Pharmacy
- Game
- Edgars
- MRP
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 1625 |
Published | February 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 5.28 Billion |
Forecasted Market Value ( USD | $ 8.07 Billion |
Compound Annual Growth Rate | 11.2% |
Regions Covered | Africa |
No. of Companies Mentioned | 20 |