Canonical URL: https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/ --- description: Explore Africa's gift-card economy through nine countries, current Statista data and the business models behind retail vouchers, corporate rewards and resale. title: Gift Cards in Africa: Retail, Rewards and Resale in 2026 image: https://giftcard.news/images/social/v1/gift-cards-africa-one-continent-very-different-kinds-value-5088e715fc2c9316b3bb6ceb9484ceab.jpg --- 1. [Home](https://giftcard.news/) 2. [Research & Trends](https://giftcard.news/research-trends/) # Gift Cards in Africa: One Continent, Very Different Kinds of Value New mobile-money data and nine country case studies reveal why Africa's gift-card business spans local retail credit, corporate rewards and resale markets, each with different… By [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 22, 2026 16 min read Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fgift-cards-in-africa-market-models-2026%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Gift%20Cards%20in%20Africa%3A%20One%20Continent%2C%20Very%20Different%20Kinds%20of%20Value "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fgift-cards-in-africa-market-models-2026%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Gift%20Cards%20in%20Africa%3A%20One%20Continent%2C%20Very%20Different%20Kinds%20of%20Value%20https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fgift-cards-in-africa-market-models-2026%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Editorial illustration of shoppers and merchants using phones and gift cards across three contemporary African retail settings.](https://giftcard.news/images/variants/v1/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers-w1280.webp) Editorial illustration of the different roles of gift cards, from groceries and personal gifts to local merchant spending. The scenes are illustrative, not photographs of named company customers. Photo: Gift Card News **In this report** 1. [A growing market, with several businesses inside it](#article-section-a-growing-market-with-several-businesses-inside-it) 2. [The payment infrastructure is already regional](#article-section-the-payment-infrastructure-is-already-regional) 3. [South Africa: international brands, local purchasing power](#article-section-south-africa-international-brands-local-purchasing-power) 4. [Kenya: the phone is part of the product](#article-section-kenya-the-phone-is-part-of-the-product) 5. [Nigeria: corporate rewards reach the household budget](#article-section-nigeria-corporate-rewards-reach-the-household-budget) 6. [Nigeria and Ghana: resale answers a different question](#article-section-nigeria-and-ghana-resale-answers-a-different-question) 7. [Egypt, Morocco and Tunisia: distribution is only half the story](#article-section-egypt-morocco-and-tunisia-distribution-is-only-half-the-story) 8. [Rwanda and Uganda: checkout details shape usefulness](#article-section-rwanda-and-uganda-checkout-details-shape-usefulness) 9. [The international-brand trap](#article-section-the-international-brand-trap) 10. [Who wins when the value is used?](#article-section-who-wins-when-the-value-is-used) 3 figures * [Africa's mobile-money flows differ sharply by region](#article-figure-1) * [Internet access across the nine selected markets](#article-figure-2) * [How South Africans reported paying for online shopping](#article-figure-3) 3 tables * [A growing market, with several businesses inside it](#article-table-1) * [A growing market, with several businesses inside it](#article-table-2) * [Nigeria: corporate rewards reach the household budget](#article-table-3) [Download data (CSV)](https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/data.csv) Chart values, table cells, source references and the report revision date. A digital gift card can cross an inbox in seconds and still stop at a national storefront. [Amazon](https://giftcard.news/company/amazon/)'s South African eGift card lasts ten years, but its balance cannot be spent on Amazon's other national websites. Delivery is global in the ordinary sense of sending a message. The purchasing power is defined much more narrowly. [\[S01\]](#article-source-1) In Kenya, [GiftPesa](https://giftcard.news/company/giftpesa/) puts vouchers on recipients' phones and lets them redeem through a participating merchant's till number. In Nigeria and Ghana, [Cardtonic](https://giftcard.news/company/cardtonic-thetonictech/) offers a different proposition: selling an unwanted gift card for local-currency value. One model organises spending within a network; another supplies a route out of the original card. [\[S02\]](#article-source-2)[\[S03\]](#article-source-3) That difference is central to Africa's gift-card business in 2026\. Retailers want to win the eventual purchase. Corporate reward platforms connect incentive budgets with merchants. Resale businesses offer recipients another way to use restricted value. All can deliver something called a digital gift card, while serving quite different commercial interests. The emerging competition is therefore about more than who can send a code fastest. It is about who controls where value can travel, who can use it, and which business captures the resulting transaction. ## A growing market, with several businesses inside it A commercial databook announced by [Research and Markets](https://giftcard.news/company/research-and-markets/) in February 2026 put Africa's gift-card market at an estimated $5 billion in 2025, forecast $5.6 billion for 2026 and projected $8.5 billion by 2030\. This covers the broader gift-card sector. It is not a separately measured digital-only market or an audited count of every continental transaction. [\[S04\]](#article-source-4) Scroll left or right to see all columns __A growing market, with several businesses inside it__ | Year | Published market value | Status of figure | | ---- | ---------------------- | ------------------- | | 2025 | US$5.0 billion | Commercial estimate | | 2026 | US$5.6 billion | Forecast | | 2030 | US$8.5 billion | Forecast | Source: Research and Markets' Q1 2026 announcement. The figures describe gift cards, including more than digitally delivered products. [\[S04\]](#article-source-4) Those totals offer a scale reference, but they do not explain the market's economics. The sale of a domestic grocery voucher, the resale of a foreign shopping code and the distribution of a gaming gift card through an API need different measures of success. Issued value, redeemed value and an intermediary's sales revenue are not interchangeable. The nine countries examined here show that variety. They are selected examples of published products and terms, rather than a ranking of national adoption or a claim that these providers lead their markets. Scroll left or right to see all columns __A growing market, with several businesses inside it__ | Country | Documented example | Commercial model | | ------------ | --------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------ | | South Africa | Amazon.co.za | Credit for a national retail marketplace. [\[S01\]](#article-source-1) | | Kenya | GiftPesa | Vouchers connecting businesses, recipients and merchants. [\[S02\]](#article-source-2)[\[S05\]](#article-source-5) | | Nigeria | [SureGifts](https://giftcard.news/company/suregifts/) and Cardtonic | Corporate rewards alongside a distinct resale market. [\[S14\]](#article-source-14)[\[S03\]](#article-source-3) | | Ghana | [Akese Homeware](https://giftcard.news/company/akese-homeware/) | Domestic retailer gifting in local currency. [\[S06\]](#article-source-6) | | Egypt | [Home Centre](https://giftcard.news/company/home-centre/) through [YOUGotaGift](https://giftcard.news/company/yougotagift/) | Digital distribution into an Egyptian retail programme. [\[S07\]](#article-source-7) | | Morocco | [Chari Money](https://giftcard.news/company/chari-money/) | Voucher distribution embedded in other platforms. [\[S08\]](#article-source-8) | | Tunisia | [SpaceNet](https://giftcard.news/company/spacenet/) | Emailed value for a domestic retailer's website. [\[S09\]](#article-source-9) | | Rwanda | [Murukali](https://giftcard.news/company/murukali/) | Gift balances within a local marketplace. [\[S10\]](#article-source-10)[\[S21\]](#article-source-21) | | Uganda | [RSVP Uganda](https://giftcard.news/company/rsvp-uganda/) | A merchant's published email voucher programme. [\[S11\]](#article-source-11) | ## The payment infrastructure is already regional Recent data make it difficult to treat Africa as a single digital distribution market. [Statista](https://giftcard.news/company/statista/)'s July 2026 publication of [GSMA](https://giftcard.news/organization/gsma/) figures puts mobile-money transaction value in East Africa at US$806 billion in 2025, compared with US$498 billion in West Africa, US$105 billion in Central Africa, US$15 billion in North Africa and US$8 billion in Southern Africa. [\[S13\]](#article-source-13) The data behind the story ### Africa's mobile-money flows differ sharply by region Mobile-money transaction value in 2025, reported by GSMA and published by Statista in July 2026. 2025 transaction value US$bn Tap or hover for details. All values are also available in the data table. **Sources:** [\[S13\]](#article-source-13) GSMA via Statista; [\[S25\]](#article-source-25) GSMA report and methodology 2025 gross mobile-money flows, including transfers and cash-in/cash-out. Ordinary mobile banking is excluded. These figures are not gift-card sales or a ranking of all digital payments. Source report published in 2026. Explore the data table Scroll left or right to see all columns __Africa's mobile-money flows differ sharply by region (US$bn)__ | Category | 2025 transaction value | | --------------- | ---------------------- | | East Africa | 806 US$bn | | West Africa | 498 US$bn | | Central Africa | 105 US$bn | | North Africa | 15 US$bn | | Southern Africa | 8 US$bn | These are gross mobile-money flows, including transfers and cash-in and cash-out, not gift-card sales. They exclude ordinary banking services that use phones simply as an access channel. Southern Africa's smaller total therefore does not mean it has little digital-payment activity overall. The same money can pass through several kinds of transaction, so these flows cannot be read as unique retail purchases. [\[S25\]](#article-source-25) Their relevance is operational. They show that the payment environments surrounding digital vouchers differ sharply. An issuer entering an established phone-based transaction network faces a different integration problem from a retailer selling balances through its own website. The useful question is which existing behaviour the gift product fits into. Connectivity varies too. Statista's country comparison, using February 2025 internet estimates from [Kepios](https://giftcard.news/company/kepios/), [We Are Social](https://giftcard.news/company/we-are-social/) and [DataReportal](https://giftcard.news/organization/datareportal/), ranges from 92.2% of the population in Morocco to 28% in Uganda among these nine selected markets. The figures are older structural context, rather than 2026 measurements or gift-card adoption rates. [\[S22\]](#article-source-22) The data behind the story ### Internet access across the nine selected markets Internet users as a percentage of the total population, February 2025 estimates. Population using the internet % Tap or hover for details. All values are also available in the data table. **Source:** [\[S22\]](#article-source-22) Kepios, We Are Social and DataReportal via Statista Explicitly dated structural context from February 2025, published April 2025\. Selected countries do not represent a complete continental ranking. Internet access does not measure gift-card ownership, purchases or redemption. Explore the data table Scroll left or right to see all columns __Internet access across the nine selected markets (%)__ | Category | Population using the internet | | ------------ | ----------------------------- | | Morocco | 92.2% | | Tunisia | 84.9% | | Egypt | 81.9% | | South Africa | 78.9% | | Ghana | 69.9% | | Kenya | 48.0% | | Nigeria | 45.4% | | Rwanda | 34.2% | | Uganda | 28.0% | A country can have substantial digital financial activity without every prospective recipient being reachable through the same shopping app. That distinction matters to corporate buyers sending rewards across a whole workforce. An attractive catalogue has little commercial value if a significant group cannot comfortably claim or spend what it contains. ## South Africa: international brands, local purchasing power Amazon.co.za illustrates how an international brand can operate a country-specific gift-card product. Its published eGift conditions provide digital delivery, no fees and ten-year validity. The value purchases eligible goods and services on the South African storefront. The restriction concerns the storefront, not a blanket requirement that a recipient be physically inside South Africa. [\[S01\]](#article-source-1) The business logic follows from that design. A gift purchaser commits a budget to the marketplace, while the recipient chooses the eventual item. The retailer secures a destination for spending without needing the giver to select the right product. That mechanism does not establish incremental revenue: some of the resulting purchases could have happened anyway. South Africa's online payment mix also resists a simple card-versus-digital story. In Statista's 2025 survey, 58% of respondents reported using debit cards for online shopping during the previous twelve months, 45% digital wallets and 31% credit cards. The broader category of prepaid cards or vouchers registered 20%. Respondents could select multiple methods, so the percentages are not shares of transaction value and do not sum to 100%. [\[S23\]](#article-source-23) The data behind the story ### How South Africans reported paying for online shopping Payment methods used in the previous twelve months, 2025 Statista Consumer Insights survey. Respondents selecting method % Tap or hover for details. All values are also available in the data table. **Source:** [\[S23\]](#article-source-23) Statista Consumer Insights 2,015 respondents aged 18-64, surveyed October 2024 to September 2025; multiple answers permitted. Percentages are not transaction-value shares. The prepaid cards/vouchers category is broader than gift cards. Explore the data table Scroll left or right to see all columns __How South Africans reported paying for online shopping (%)__ | Category | Respondents selecting method | | ------------------------- | ---------------------------- | | Debit card | 58% | | Digital wallet | 45% | | Credit card | 31% | | Cash on delivery | 28% | | Direct debit | 22% | | Prepaid cards or vouchers | 20% | | Advance payment | 11% | | Payment by invoice | 7% | | None | 7% | | Other | 2% | The survey covered 2,015 respondents aged 18 to 64 between October 2024 and September 2025\. Its prepaid category cannot establish how many used gift cards specifically. It nevertheless places prepaid value inside a mixed payment environment rather than presenting it as a replacement for every other checkout method. [\[S23\]](#article-source-23) Purchased prepaid value also has a local legal setting. Section 63 of South Africa's Consumer Protection Act generally provides validity for covered instruments until the earlier of full redemption or three years after issue, with a longer agreed validity period permitted. This is South African law governing covered purchased value, not a continental expiry standard or a rule to apply indiscriminately to promotional rewards. [\[S12\]](#article-source-12) ## Kenya: the phone is part of the product GiftPesa describes itself as a Kenyan digital-voucher platform for businesses and individuals. Its current recipient instructions include USSD redemption, partial spending and balance checks. The customer enters a participating outlet's till number and the amount to use, rather than needing to spend the entire voucher in one purchase. [\[S02\]](#article-source-2)[\[S05\]](#article-source-5) For corporate distribution, the company describes uploading recipients in a spreadsheet and sending personalised SMS messages. The recipient experience is therefore part of the programme's infrastructure, not an afterthought once a reward budget has been approved. The same employer can distribute value in bulk while recipients spend different amounts at different times. [\[S02\]](#article-source-2) The terms deserve attention. GiftPesa's FAQ says vouchers become inactive after twelve months and require customer-support reactivation. A separate company description calls them non-expiring. The FAQ therefore does not support a promise of uninterrupted usability, and the two published descriptions should not be treated as identical terms. [\[S02\]](#article-source-2)[\[S05\]](#article-source-5) Its technical documentation, dated February 2023, further separates disbursement from redemption, with distinct notifications for each. It describes a merchant's [M-Pesa](https://giftcard.news/organization/m-pesa/) till number in the redemption workflow and supports several channels. That establishes the documented architecture, without turning old API examples into evidence of present transaction volumes. [\[S24\]](#article-source-24) The commercial significance is the connection between the corporate buyer and the actual use of a reward. Sending a voucher confirms distribution. Redemption shows that someone found a use for it. Keeping those events distinct gives buyers a more meaningful basis for evaluating a programme than treating every delivered message as successful engagement. For merchants, the potential benefit is directed demand. For recipients, partial spending improves flexibility inside the accepted network. Neither mechanism proves a particular increase in retention or sales, but both explain why a voucher platform can have a business role beyond replacing a paper certificate. ## Nigeria: corporate rewards reach the household budget Nigeria's gift-card economy cannot be reduced to foreign codes exchanged for naira. SureGifts operates a merchant-backed rewards business, founded in 2014, serving corporate programmes in Nigeria and Kenya. Its platform sits between organisations funding incentives and merchants supplying what recipients ultimately buy. [\[S19\]](#article-source-19)[\[S20\]](#article-source-20) The company's Beyond Cash Report 2026, announced on 26 August, gives that model a more concrete shape. SureGifts reports more than NGN 150 billion in voucher-based corporate reward value over the past decade. Its public preview also gives an average reward value of NGN 48,000\. These are company-published findings, not independently established Nigerian population totals. [\[S14\]](#article-source-14)[\[S19\]](#article-source-19) More revealing than the headline value is where redemption occurs. The company's release says 79.1% of redeemed value flows into supermarkets and groceries. It describes proprietary transaction records involving over 1,000 corporate organisations and more than 400 merchants, supplemented by its Corporate Rewards Pulse survey of decision-makers. [\[S19\]](#article-source-19) Scroll left or right to see all columns __Nigeria: corporate rewards reach the household budget__ | Finding reported by SureGifts | What it measures | | -------------------------------------------- | ---------------------------------------------------------------- | | 79.1% directed to supermarkets and groceries | Share of redemption value in the reported programme data | | 40% allocated to employee rewards | Share of reward spending | | 29% formally measuring reward impact | Surveyed decision-makers reporting their organisations' practice | These figures have different denominators. They are not three slices of one market total. [\[S19\]](#article-source-19) The grocery concentration changes the business interpretation. Within these programmes, the reward is often entering ordinary household consumption rather than funding an occasional luxury. That can make everyday merchant acceptance commercially important: recipients need places where they would find useful purchases, while merchants have a reason to compete for externally funded demand. The measurement result also reveals a distinction between distributing an incentive and proving its effect. A platform can record a redemption without establishing that a customer became more loyal or an employee more productive. Corporate buyers seeking those outcomes need to connect spending with the purpose of the programme, rather than use issuance alone as its scorecard. This is the strongest reason to examine SureGifts as business infrastructure. The money begins in an organisational budget, but its destination depends on recipient choice within a network. The platform's commercial position rests on managing that connection, not simply adding more logos to a catalogue. ## Nigeria and Ghana: resale answers a different question Cardtonic, developed by The Tonic Technologies, combines gift-card purchasing and selling with other services. Its app description covers Nigeria and Ghana, including cedi wallet funding through mobile money. The update dated 30 July 2026 added Gift Mode, letting a buyer send a purchased gift card directly to someone else. [\[S03\]](#article-source-3) That puts original gifting and the conversion of unwanted cards in the same customer relationship. The two activities should still be distinguished. One person is choosing restricted purchasing power for a recipient. Another is deciding that a different form of value would be more useful. Cardtonic's calculator makes the resale mechanism explicit. A seller specifies the payout currency, card category, subcategory and amount. The platform warns that rates change continually. What appears is a quote for that particular card, not a guarantee that its printed foreign-currency value converts into naira or cedis at face value. [\[S15\]](#article-source-15) The original issuer defines where a card is redeemable. The secondary-market buyer quotes what it will pay for the card. Those are different commercial relationships, with different counterparties and obligations. Cardtonic's separately advertised virtual dollar card is another product again; calling all three simply digital cards would hide the distinctions. [\[S03\]](#article-source-3)[\[S15\]](#article-source-15) Ghana's domestic retail products offer a useful counterweight. Accra-based Akese Homeware publishes an eGift card with preset values of GHS 500, GHS 1,000, GHS 2,000 and GHS 5,000, plus a custom amount and personal message. The gift budget is expressed in local currency and directed to an identified retailer. [\[S06\]](#article-source-6) The buyer chooses between fundamentally different promises: shopping at a domestic store, receiving value across a reward network, or seeking a resale payout. A broad account of African gift-card trading should preserve all three. ## Egypt, Morocco and Tunisia: distribution is only half the story In Egypt, YOUGotaGift lists a Home Centre eGift card ranging from EGP 200 to EGP 20,000, with digital delivery and twelve-month validity. The product is identified for Egyptian redemption. Its [Shukran](https://giftcard.news/organization/shukran/) conditions permit partial use, allow the customer to pay an excess basket amount and prohibit exchange for cash. [\[S07\]](#article-source-7) The listing carries an in-store redemption badge, while the umbrella terms refer to participating [Landmark](https://giftcard.news/company/landmark-group/) brands online and offline. The defensible conclusion is country-specific retail acceptance governed by the applicable merchant terms. Electronic delivery alone says nothing about whether the eventual transaction occurs on a website or at a till. [\[S07\]](#article-source-7) For the retailer, this creates a route from someone else's gift budget to its merchandise. For the distributor, the value lies in presenting and fulfilling the product. That makes the merchant's acceptance conditions part of the distributor's sales proposition: a convenient purchase is only the beginning of a useful gift. Morocco's [Chari](https://giftcard.news/company/chari/) Money illustrates an infrastructure approach. Its explanation dated 4 June 2026 describes an API through which another app or wallet can offer vouchers: selection, payment, code issuance and delivery. The categories span gaming, streaming, app-store products and gift codes, so the whole catalogue should not be counted as gift cards. [\[S08\]](#article-source-8) Chari's stated proposition is that a partner keeps its branding and customer relationship while the underlying supplier connections and issuance run in the background. The commercial objective is repeat use of the host platform and a wider service offering. The company also explicitly makes launch conditional on [Bank Al-Maghrib](https://giftcard.news/organization/bank-al-maghrib/) approval through principal-agent status, with new use cases requiring prior supervisory approval. An API connection does not remove that condition. [\[S08\]](#article-source-8) Tunisia's SpaceNet offers a narrower domestic retail model. Its instructions describe emailed or printable gift cards beginning at TND 50, with a unique code generated after payment. The code can cover part or all of a purchase on its website. [\[S09\]](#article-source-9) That narrower scope can be commercially coherent. A retailer does not need to offer unrestricted money to sell a useful gift; it needs a recipient who values its merchandise. The trade-off is that convenience in delivery cannot compensate for a poor match between the recipient and the store. ## Rwanda and Uganda: checkout details shape usefulness Rwanda's Murukali is an e-commerce marketplace that began with groceries in 2015 and expanded into other categories and sellers. That background matters: its gift balance directs demand into a domestic marketplace rather than merely one small shop or an international code catalogue. [\[S21\]](#article-source-21) Its eGift instructions provide an emailed card number and PIN that the purchaser can forward to the recipient. Unspent value remains for another purchase. If a basket costs more than the balance, the customer can pay the remainder by bank card or mobile money. The terms specify two-year expiry and no cash refund. [\[S10\]](#article-source-10) Those mechanics affect both sides of the transaction. Keeping a residual balance permits another visit; accepting an additional payment lets the recipient buy something above the gift's value. Neither proves increased sales, but each removes a particular constraint that could make a voucher harder to use. In Uganda, jewellery and accessories merchant RSVP Uganda publishes email vouchers from UGX 100,000 to UGX 500,000, with checkout instructions and one-year validity. It is evidence of a described retail programme, not a verified count of active users or proof that every denomination is currently purchasable. [\[S11\]](#article-source-11) Smaller programmes are valuable to this analysis because they reveal the actual product contract. National forecasts can suggest growth, but a recipient experiences rules about balances, checkout and expiry. Those details determine whether the gift works for an ordinary purchase. ## The international-brand trap Local availability from a reseller does not establish compatibility with a local account. [Google](https://giftcard.news/company/google/)'s official gift-card country table includes South Africa, with values from R10 to R5,000, but does not list Nigeria, Ghana or Kenya as local Google Play gift-card markets. Google requires the card's country and currency to match where it can be redeemed and used, alongside the relevant account-region requirements. [\[S16\]](#article-source-16) This is a product restriction, not a blanket statement about every payment service Google offers. It nevertheless matters to distributors: putting a familiar brand in a local catalogue cannot amend that brand's redemption rules. [Apple](https://giftcard.news/company/apple/) makes another important distinction. Its South African payment-method listing explicitly includes redemption of App Store and iTunes gift cards. Its Nigerian listing describes adding funds to an Apple Account balance. The latter is not, by itself, evidence of a locally issued Nigerian gift-card programme. Apple separately restricts redemption of the relevant cards to their country or region of purchase. [\[S17\]](#article-source-17)[\[S18\]](#article-source-18) Three claims therefore need to remain separate: a seller offers a code, the issuer supports a local product, and the recipient's account is eligible to use it. Confusing them makes a catalogue look larger without necessarily making it more useful. ## Who wins when the value is used? The nine-country comparison points to several distinct contests. Retailers and marketplaces compete to become the destination of a gift budget. Corporate platforms compete to make rewards easy to distribute and useful to spend. Infrastructure providers compete for the integration inside other companies' apps. Resale platforms compete to turn unwanted restrictions into a payout acceptable to the seller. Each has a different commercial measure. A retailer cares about the purchase and the customer relationship. A reward buyer cares about whether spending supports the intended programme. An API customer needs reliable delivery and correct product conditions. A person selling a card cares about the net value received and the certainty of payment. The forecasts suggest a growing industry. The company documents show why that growth will not produce a single universal product. Currency, merchant acceptance, account eligibility, payment access and expiry remain part of what is being sold. For the recipient, the decisive moment is when the promised value becomes something useful. The business that makes that happen has solved a more substantial problem than delivering a code. _Reporting note: This original market analysis reflects public documentation and research reviewed on 22 September 2026\. Product examples describe published terms, not transaction tests, market rankings or new launch announcements. Data periods and forecasts are identified alongside the figures. This is journalism, not legal advice._ [Download the chart and table data as CSV](https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/data.csv) with a free Gift Card News account. [Back to top ↑](#article-top) ## In this article ### Companies * [Akese Homeware](https://giftcard.news/company/akese-homeware/) * [Amazon](https://giftcard.news/company/amazon/) * [Apple](https://giftcard.news/company/apple/) * [Cardtonic / TheTonicTech](https://giftcard.news/company/cardtonic-thetonictech/) * [Chari](https://giftcard.news/company/chari/) * [Chari Money](https://giftcard.news/company/chari-money/) * [GiftPesa](https://giftcard.news/company/giftpesa/) * [GlobeNewswire](https://giftcard.news/company/globenewswire/) * [Google](https://giftcard.news/company/google/) * [Home Centre](https://giftcard.news/company/home-centre/) * [Kepios](https://giftcard.news/company/kepios/) * [Landmark Group](https://giftcard.news/company/landmark-group/) * [Murukali](https://giftcard.news/company/murukali/) * [Nairametrics](https://giftcard.news/company/nairametrics/) * [RSVP Uganda](https://giftcard.news/company/rsvp-uganda/) * [Research and Markets](https://giftcard.news/company/research-and-markets/) * [SpaceNet](https://giftcard.news/company/spacenet/) * [Statista](https://giftcard.news/company/statista/) * [SureGifts](https://giftcard.news/company/suregifts/) * [We Are Social](https://giftcard.news/company/we-are-social/) * [YOUGotaGift](https://giftcard.news/company/yougotagift/) ### Organizations * [Bank Al-Maghrib](https://giftcard.news/organization/bank-al-maghrib/) * [DataReportal](https://giftcard.news/organization/datareportal/) * [GSMA](https://giftcard.news/organization/gsma/) * [Government of South Africa](https://giftcard.news/organization/government-of-south-africa/) * [M-Pesa](https://giftcard.news/organization/m-pesa/) * [Shukran](https://giftcard.news/organization/shukran/) ### Sources and documents * [\[S01\] Amazon South Africa eGift Card: product conditions and FAQ](https://www.amazon.co.za/Amazon-eGift-Card-Amazon-Smile-Animated/dp/B0F9WSN4LC?utm%5Fsource=giftcard.news) — Amazon * [\[S02\] GiftPesa recipient and business FAQs](https://giftpesa.com/faqs/?utm%5Fsource=giftcard.news) — GiftPesa * [\[S03\] Cardtonic app description and July 2026 release notes](https://play.google.com/store/apps/details?hl=en&id=com.cardtonic.app&utm%5Fsource=giftcard.news) — Cardtonic via Google Play * [\[S04\] Africa Gift Card Business and Investment Opportunity Report 2026 announcement](https://www.globenewswire.com/news-release/2026/02/20/3241871/28124/en/africa-gift-card-business-and-investment-opportunity-report-2026-an-8-5-billion-market-by-2030-flutterwave-fawry-and-major-grocery-chains-drive-closed-loop-and-marketplace-led-gift.html?utm%5Fsource=giftcard.news) — Research and Markets via GlobeNewswire * [\[S05\] GiftPesa company profile](https://giftpesa.com/about/?utm%5Fsource=giftcard.news) — GiftPesa * [\[S06\] Akese Homeware Ghana eGift Card](https://www.akesehomeware.com/gift-card?utm%5Fsource=giftcard.news) — Akese Homeware * [\[S07\] Egypt Home Centre eGift Card and Shukran terms](https://yougotagift.com/egypt/gift-card-popup/995/reviews/?utm%5Fsource=giftcard.news) — YOUGotaGift * [\[S08\] Vouchers and Digital Goods in Morocco 2026](https://www.baas.ma/en/blog/vouchers-bons-digitaux-maroc?utm%5Fsource=giftcard.news) — Chari Money * [\[S09\] SpaceNet gift-card delivery and redemption instructions](https://spacenet.tn/907-carte-cadeau?utm%5Fsource=giftcard.news) — SpaceNet * [\[S10\] Murukali eGift Card terms](https://murukali.com/pages/murukali-egift-card?utm%5Fsource=giftcard.news) — Murukali * [\[S11\] RSVP Uganda Gift Voucher](https://rsvpuganda.com/products/gift-card?utm%5Fsource=giftcard.news) — RSVP Uganda * [\[S12\] South Africa Consumer Protection Act 68 of 2008, section 63](https://www.gov.za/sites/default/files/gcis%5Fdocument/201409/321864670.pdf?utm%5Fsource=giftcard.news) — Government of South Africa * [\[S13\] Mobile-money transaction value in Africa by region, 2025](https://www.statista.com/statistics/1139390/mobile-money-accounts-africa/?utm%5Fsource=giftcard.news) — GSMA via Statista * [\[S14\] The Beyond Cash Report 2026: public findings](https://www.suregifts.com.ng/beyond-cash?utm%5Fsource=giftcard.news) — SureGifts * [\[S15\] Gift-card resale rate calculator](https://cardtonic.com/rate-calculator?utm%5Fsource=giftcard.news) — Cardtonic * [\[S16\] Google Play gift-card country availability and restrictions](https://support.google.com/googleplay/answer/3422734?hl=en&utm%5Fsource=giftcard.news) — Google * [\[S17\] Apple Account payment methods by country](https://support.apple.com/en-ph/111741?utm%5Fsource=giftcard.news) — Apple * [\[S18\] Apple gift-card redemption and country restrictions](https://support.apple.com/en-in/108285?utm%5Fsource=giftcard.news) — Apple * [\[S19\] SureGifts Beyond Cash report launch and disclosed dataset scope](https://nairametrics.com/2026/08/26/suregifts-launches-beyond-cash-report-as-nigerias-corporate-rewards-economy-hits-%E2%82%A6150-billion/?utm%5Fsource=giftcard.news) — SureGifts contributed release via Nairametrics * [\[S20\] SureGifts company and leadership profile](https://www.suregifts.com.ng/about-us?utm%5Fsource=giftcard.news) — SureGifts * [\[S21\] Murukali marketplace background](https://murukali.com/rw-weshipworldwide/pages/about-us-2?utm%5Fsource=giftcard.news) — Murukali * [\[S22\] Internet penetration in selected African countries, February 2025](https://www.statista.com/statistics/1124283/internet-penetration-in-africa-by-country/?utm%5Fsource=giftcard.news) — Kepios, We Are Social and DataReportal via Statista * [\[S23\] Online shopping payment methods in South Africa, 2025 survey](https://www.statista.com/forecasts/826536/most-common-online-payments-by-type-in-south-africa/?utm%5Fsource=giftcard.news) — Statista Consumer Insights * [\[S24\] GiftPesa API disbursement and redemption documentation](https://docs.giftpesa.com/?utm%5Fsource=giftcard.news) — GiftPesa * [\[S25\] GSMA State of the Industry Report on Mobile Money 2026: regional values and definitions](https://www.gsma.com/sotir/wp-content/plugins/plugin%5Fgsma%5Fsotir/reports/The-State-of-the-Industry-Report-2026%5FEnglish.pdf?utm%5Fsource=giftcard.news) — GSMA Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fgift-cards-in-africa-market-models-2026%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Gift%20Cards%20in%20Africa%3A%20One%20Continent%2C%20Very%20Different%20Kinds%20of%20Value "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fgift-cards-in-africa-market-models-2026%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial "LinkedIn") [ ](https://wa.me/?text=Gift%20Cards%20in%20Africa%3A%20One%20Continent%2C%20Very%20Different%20Kinds%20of%20Value%20https%3A%2F%2Fgiftcard.news%2Fresearch-trends%2Fgift-cards-in-africa-market-models-2026%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial "WhatsApp") ![Portrait of Oliver Reed](https://giftcard.news/images/variants/v1/oliver-reed-editorial-portrait-w320.webp) About the author ## [Oliver Reed](https://giftcard.news/author/oliver-reed/) Journalist — Industry Deals & Research Oliver Reed covers industry acquisitions, investment and market research for Gift Card News. ## Related articles [Gift Cards](https://giftcard.news/gift-cards/) News ### [Yoyo's stored-value pitch puts the gift card ledger at the centre of retail](https://giftcard.news/gift-cards/south-african-gift-card-market-to-reach-1-64-billion-in-2026-driven-by-s-7cf988207938/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) August 21, 2026 3 min [Industry Deals](https://giftcard.news/industry-deals/) News ### [Virtual Incentives expands African gift card rewards in Kenya, Nigeria and South Africa](https://giftcard.news/industry-deals/virtual-incentives-expands-african-gift-card-rewards-in-kenya-nigeria-an-0484500c6490/) [Suzie Elis](https://giftcard.news/author/suzie-elis/) July 19, 2021 1 min [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [Gift Card to Cash: Visa, Mastercard, Apple, Apps and Cash-Out Rules](https://giftcard.news/research-trends/gift-card-to-cash/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 19, 2026 79 min From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. [Find a provider ](https://giftcard.news/find-a-provider/) **In this report** 1. [A growing market, with several businesses inside it](#article-section-a-growing-market-with-several-businesses-inside-it) 2. [The payment infrastructure is already regional](#article-section-the-payment-infrastructure-is-already-regional) 3. [South Africa: international brands, local purchasing power](#article-section-south-africa-international-brands-local-purchasing-power) 4. [Kenya: the phone is part of the product](#article-section-kenya-the-phone-is-part-of-the-product) 5. [Nigeria: corporate rewards reach the household budget](#article-section-nigeria-corporate-rewards-reach-the-household-budget) 6. [Nigeria and Ghana: resale answers a different question](#article-section-nigeria-and-ghana-resale-answers-a-different-question) 7. [Egypt, Morocco and Tunisia: distribution is only half the story](#article-section-egypt-morocco-and-tunisia-distribution-is-only-half-the-story) 8. [Rwanda and Uganda: checkout details shape usefulness](#article-section-rwanda-and-uganda-checkout-details-shape-usefulness) 9. [The international-brand trap](#article-section-the-international-brand-trap) 10. [Who wins when the value is used?](#article-section-who-wins-when-the-value-is-used) [Download data (CSV)](https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/data.csv) [Back to top ↑](#article-top) ## Related articles [Gift Cards](https://giftcard.news/gift-cards/) News ### [Yoyo's stored-value pitch puts the gift card ledger at the centre of retail](https://giftcard.news/gift-cards/south-african-gift-card-market-to-reach-1-64-billion-in-2026-driven-by-s-7cf988207938/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) August 21, 2026 3 min [Industry Deals](https://giftcard.news/industry-deals/) News ### [Virtual Incentives expands African gift card rewards in Kenya, Nigeria and South Africa](https://giftcard.news/industry-deals/virtual-incentives-expands-african-gift-card-rewards-in-kenya-nigeria-an-0484500c6490/) [Suzie Elis](https://giftcard.news/author/suzie-elis/) July 19, 2021 1 min [Research & Trends](https://giftcard.news/research-trends/) Analysis ### [Gift Card to Cash: Visa, Mastercard, Apple, Apps and Cash-Out Rules](https://giftcard.news/research-trends/gift-card-to-cash/) [Oliver Reed](https://giftcard.news/author/oliver-reed/) September 19, 2026 79 min ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://giftcard.news/#publisher","name":"Gift Card News","url":"https://giftcard.news/","logo":{"@type":"ImageObject","url":"https://giftcard.news/brand/giftcard-news-logo.svg"}},{"@type":"Person","@id":"https://giftcard.news/author/oliver-reed/#person","name":"Oliver Reed","url":"https://giftcard.news/author/oliver-reed/","description":"Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.","jobTitle":"Journalist — Industry Deals & Research","image":{"@type":"ImageObject","url":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp","contentUrl":"https://giftcard.news/images/oliver-reed-editorial-portrait.webp","width":256,"height":256,"caption":"Illustrated portrait representing the Oliver Reed editorial profile."}},{"@type":"ImageObject","url":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp","contentUrl":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp","width":1672,"height":941,"caption":"Editorial illustration of the different roles of gift cards, from groceries and personal gifts to local merchant spending. The scenes are illustrative, not photographs of named company customers.","@id":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp#image"},{"@type":"Article","@id":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/#article","url":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/","headline":"Gift Cards in Africa: One Continent, Very Different Kinds of Value","description":"Explore Africa's gift-card economy through nine countries, current Statista data and the business models behind retail vouchers, corporate rewards and resale.","datePublished":"2026-09-22T04:21:08.755Z","dateModified":"2026-09-22T04:21:08.755Z","inLanguage":"en","mainEntityOfPage":{"@id":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/#webpage"},"isPartOf":{"@id":"https://giftcard.news/#website"},"isAccessibleForFree":false,"hasPart":{"@type":"WebPageElement","isAccessibleForFree":false,"cssSelector":".reader-restricted"},"image":[{"@type":"ImageObject","url":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp","contentUrl":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp","width":1672,"height":941,"caption":"Editorial illustration of the different roles of gift cards, from groceries and personal gifts to local merchant spending. The scenes are illustrative, not photographs of named company customers.","@id":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp#image"}],"articleSection":"Research & Trends","keywords":["Akese Homeware","Amazon","Apple","Bank Al-Maghrib","Cardtonic / TheTonicTech","Chari","Chari Money","DataReportal","GSMA","GiftPesa","GlobeNewswire","Google","Government of South Africa","Home Centre","Kepios","Landmark Group","M-Pesa","Murukali","Nairametrics","RSVP Uganda","Research and Markets","Shukran","SpaceNet","Statista","SureGifts","We Are Social","YOUGotaGift"],"mentions":[{"@type":"Organization","@id":"https://giftcard.news/company/akese-homeware/#entity","name":"Akese Homeware","url":"https://giftcard.news/company/akese-homeware/"},{"@type":"Organization","@id":"https://giftcard.news/company/amazon/#entity","name":"Amazon","url":"https://giftcard.news/company/amazon/"},{"@type":"Organization","@id":"https://giftcard.news/company/apple/#entity","name":"Apple","url":"https://giftcard.news/company/apple/"},{"@type":"Organization","@id":"https://giftcard.news/organization/bank-al-maghrib/#entity","name":"Bank Al-Maghrib","url":"https://giftcard.news/organization/bank-al-maghrib/"},{"@type":"Organization","@id":"https://giftcard.news/company/cardtonic-thetonictech/#entity","name":"Cardtonic / TheTonicTech","url":"https://giftcard.news/company/cardtonic-thetonictech/"},{"@type":"Organization","@id":"https://giftcard.news/company/chari/#entity","name":"Chari","url":"https://giftcard.news/company/chari/"},{"@type":"Organization","@id":"https://giftcard.news/company/chari-money/#entity","name":"Chari Money","url":"https://giftcard.news/company/chari-money/"},{"@type":"Organization","@id":"https://giftcard.news/organization/datareportal/#entity","name":"DataReportal","url":"https://giftcard.news/organization/datareportal/"},{"@type":"Organization","@id":"https://giftcard.news/organization/gsma/#entity","name":"GSMA","url":"https://giftcard.news/organization/gsma/"},{"@type":"Organization","@id":"https://giftcard.news/company/giftpesa/#entity","name":"GiftPesa","url":"https://giftcard.news/company/giftpesa/"},{"@type":"Organization","@id":"https://giftcard.news/company/globenewswire/#entity","name":"GlobeNewswire","url":"https://giftcard.news/company/globenewswire/"},{"@type":"Organization","@id":"https://giftcard.news/company/google/#entity","name":"Google","url":"https://giftcard.news/company/google/"},{"@type":"Organization","@id":"https://giftcard.news/organization/government-of-south-africa/#entity","name":"Government of South Africa","url":"https://giftcard.news/organization/government-of-south-africa/"},{"@type":"Organization","@id":"https://giftcard.news/company/home-centre/#entity","name":"Home Centre","url":"https://giftcard.news/company/home-centre/"},{"@type":"Organization","@id":"https://giftcard.news/company/kepios/#entity","name":"Kepios","url":"https://giftcard.news/company/kepios/"},{"@type":"Organization","@id":"https://giftcard.news/company/landmark-group/#entity","name":"Landmark Group","url":"https://giftcard.news/company/landmark-group/"},{"@type":"Organization","@id":"https://giftcard.news/organization/m-pesa/#entity","name":"M-Pesa","url":"https://giftcard.news/organization/m-pesa/"},{"@type":"Organization","@id":"https://giftcard.news/company/murukali/#entity","name":"Murukali","url":"https://giftcard.news/company/murukali/"},{"@type":"Organization","@id":"https://giftcard.news/company/nairametrics/#entity","name":"Nairametrics","url":"https://giftcard.news/company/nairametrics/"},{"@type":"Organization","@id":"https://giftcard.news/company/rsvp-uganda/#entity","name":"RSVP Uganda","url":"https://giftcard.news/company/rsvp-uganda/"},{"@type":"Organization","@id":"https://giftcard.news/company/research-and-markets/#entity","name":"Research and Markets","url":"https://giftcard.news/company/research-and-markets/"},{"@type":"Organization","@id":"https://giftcard.news/organization/shukran/#entity","name":"Shukran","url":"https://giftcard.news/organization/shukran/"},{"@type":"Organization","@id":"https://giftcard.news/company/spacenet/#entity","name":"SpaceNet","url":"https://giftcard.news/company/spacenet/"},{"@type":"Organization","@id":"https://giftcard.news/company/statista/#entity","name":"Statista","url":"https://giftcard.news/company/statista/"},{"@type":"Organization","@id":"https://giftcard.news/company/suregifts/#entity","name":"SureGifts","url":"https://giftcard.news/company/suregifts/"},{"@type":"Organization","@id":"https://giftcard.news/company/we-are-social/#entity","name":"We Are Social","url":"https://giftcard.news/company/we-are-social/"},{"@type":"Organization","@id":"https://giftcard.news/company/yougotagift/#entity","name":"YOUGotaGift","url":"https://giftcard.news/company/yougotagift/"}],"wordCount":3337,"citation":["https://www.amazon.co.za/Amazon-eGift-Card-Amazon-Smile-Animated/dp/B0F9WSN4LC","https://giftpesa.com/faqs/","https://play.google.com/store/apps/details?hl=en&id=com.cardtonic.app","https://www.globenewswire.com/news-release/2026/02/20/3241871/28124/en/africa-gift-card-business-and-investment-opportunity-report-2026-an-8-5-billion-market-by-2030-flutterwave-fawry-and-major-grocery-chains-drive-closed-loop-and-marketplace-led-gift.html","https://giftpesa.com/about/","https://www.akesehomeware.com/gift-card","https://yougotagift.com/egypt/gift-card-popup/995/reviews/","https://www.baas.ma/en/blog/vouchers-bons-digitaux-maroc","https://spacenet.tn/907-carte-cadeau","https://murukali.com/pages/murukali-egift-card","https://rsvpuganda.com/products/gift-card","https://www.gov.za/sites/default/files/gcis_document/201409/321864670.pdf","https://www.statista.com/statistics/1139390/mobile-money-accounts-africa/","https://www.suregifts.com.ng/beyond-cash","https://cardtonic.com/rate-calculator","https://support.google.com/googleplay/answer/3422734?hl=en","https://support.apple.com/en-ph/111741","https://support.apple.com/en-in/108285","https://nairametrics.com/2026/08/26/suregifts-launches-beyond-cash-report-as-nigerias-corporate-rewards-economy-hits-%E2%82%A6150-billion/","https://www.suregifts.com.ng/about-us","https://murukali.com/rw-weshipworldwide/pages/about-us-2","https://www.statista.com/statistics/1124283/internet-penetration-in-africa-by-country/","https://www.statista.com/forecasts/826536/most-common-online-payments-by-type-in-south-africa/","https://docs.giftpesa.com/","https://www.gsma.com/sotir/wp-content/plugins/plugin_gsma_sotir/reports/The-State-of-the-Industry-Report-2026_English.pdf"],"author":[{"@id":"https://giftcard.news/author/oliver-reed/#person"}],"publisher":{"@id":"https://giftcard.news/#publisher"}},{"@type":"WebPage","@id":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/#webpage","url":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/","name":"Gift Cards in Africa: One Continent, Very Different Kinds of Value","description":"Explore Africa's gift-card economy through nine countries, current Statista data and the business models behind retail vouchers, corporate rewards and resale.","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/#website"},"mainEntity":{"@id":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/#article"},"breadcrumb":{"@id":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/#breadcrumbs"},"primaryImageOfPage":{"@id":"https://giftcard.news/images/gift-cards-africa-one-continent-very-different-kinds-value-editorial-illustration-shoppers.webp#image"}},{"@type":"BreadcrumbList","@id":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/#breadcrumbs","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://giftcard.news/"},{"@type":"ListItem","position":2,"name":"Research & Trends","item":"https://giftcard.news/research-trends/"},{"@type":"ListItem","position":3,"name":"Gift Cards in Africa: One Continent, Very Different Kinds of Value","item":"https://giftcard.news/research-trends/gift-cards-in-africa-market-models-2026/"}]}]} ```