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Africa Fuel Card Market Analysis

  • April 2016
  • -
  • Micro Market Monitor
  • -
  • 132 pages

Summary

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Africa Fuel Card Market is expected to grow from US$22.46 Billion in 2015 to US$28.82 Billion by 2020 at a CAGR of 5.11% during the forecast period (2015 - 2020). In Africa, the major fuel card providers are fuel companies such as Total S.A., Vivo Energy, and Engen which have large number of fuel stations, and several banks which provide Fuel Cards. Need for safety and security, changing focus and growth in fleet market, reducing cost and increasing fuel efficiency, and increasing demand for cashless fuel transactions are the major drivers for the Fuel Card Market in Africa. In terms of modes of payment, Cash continues to hold the largest market share followed by Credit Facility and Fuel Card. This is mainly due to lack of awareness and technology in less developed countries

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