skip to content

The State of
KYC
in Africa

End of Year 2022 Report

Everything you need to know about the African KYC landscape and the impact of emerging fraud trends on African businesses.

Go to Overview

Overview

Smile Identity has done it again with our latest pan-African KYC report covering nearly 50M KYC checks across the continent. This report aims to help businesses understand the current landscape and develop new strategies to strengthen their KYC and identity verification processes, especially in light of the economic challenges that Africa faced in 2022 and the current focus on profitability rather than growth at all costs. With insights on biometric checks, document verification, virtual NIN and user consent agreements, this report is a must-read for any business looking to strengthen its user acquisition and fraud prevention efforts.

Download the report

What you will find in this report:

  • Overview of Africa's current KYC practices and fraud trends
  • Biometric and textual fraud trends across industries and over time
  • Insights on the importance of biometric checks in all industries
  • Solutions to reducing ID database downtime in document verification
Download the report

More insights from this report:

  • Analysis of the successful transition to virtual NIN in Nigeria
  • Discussion of the impact of new data protection regulations and user consent agreements, like NIBSS’s iGree
  • Further market deep dives for Nigeria, South Africa, Kenya, Uganda and Ghana

A sneak peek of the report

  • Fraud rates peaked at 28% despite slowing growth in the second half of 2022

  • Around 50% of fraud in all industries goes undetected with textual KYC alone

  • 6% overall downtime resulted from unscheduled outages of ID databases