The #FutureOfCommerce2022 conference by TechCabal is slated for the 23rd of September and is targeted at Africa’s informal sector. Sessions will focus on the most significant trends in payments, logistics, mobile money, agent networks, informal trade, and social commerce.
There will be a panel discussion on buy-now-pay-later services, titled “Is Buy-Now-Pay-Later the Future of Retail?” In a continent plagued with inflation, people want to be able to afford the things they want, even if they can’t afford them. Buy-Now-Pay-Later services offer people that opportunity.
With companies like Carbon launching BNPL products like Carbon Zero in 2021, to full-fledged BNPL startups launching like Lipa Later and CredPal raising $12m and $15m in 2022, to Australia’s Zip acquiring South Africa’s Payflex in 2021, there are a few pointers to the fact that the BNPL opportunity in Africa is growing. The panel will discuss its long-term scalability, risks, and how it impacts consumers in the long term.
This session will explore critical concerns like whether the current model of BNPL in Africa is viable, profitable (for businesses), and sustainable (for businesses and consumers) in the long term, and if not, what an ideal model for BNPL in Africa would look like.
Speakers will examine the risks associated with the current BNPL model, like how the emergence of predatory lending practices in the digital lending space could apply to the BNPL industry.
The confirmed speakers on this panel are Chijioke Dozie, co-founder and CEO of Carbon, Nairobi-based Tsakane Ngoepe, the Director of Strategic Finance at M-KOPA; and Eric Muli, Founder and Group CEO of LipaLater. The session will be moderated by Solape Akinpelu, CEO of HerVest.