How Much Does It Cost To Build An App Like EasyEquities?

With Africa rapidly embracing the digital revolution, creating custom apps like EasyEquities offers a massive opportunity for businesses looking to tap into the continent's growing mobile-first economy. However, the question of “how much does it cost to build an app,” especially for African markets, is not straightforward. Costs are highly influenced by technological limitations, infrastructure challenges, and uniquely African market demands.

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One of the most striking aspects of the African digital landscape is that mobile phones are the primary gateway to the internet for the majority of users. According to GSMA, over 495 million people in Sub-Saharan Africa subscribed to mobile services by the end of 2020, with the majority accessing the internet via smartphones. However, mobile data is still expensive, and access to high-speed internet is sparse in both rural and urban areas across many African countries. Therefore, app developers looking to build apps like EasyEquities need to focus on mobile-first, data-light designs that cater to both urban and rural users.

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Major African markets like Kenya, Nigeria, and South Africa are quickly emerging as tech hubs, with their digital ecosystems producing a growing number of startups and app services aimed at solving local problems. These countries offer fertile ground for digital finance platforms like EasyEquities, but the complexity of developing these regions cannot be understated. Development costs are increased by the need to optimize for mobile-driven environments, integrate local payment systems, and create apps that function smoothly in areas with limited bandwidth or connectivity. Additionally, since many African nations still face challenges related to infrastructure, including frequent power outages and unreliable network services, creating robust and adaptable systems, including offline functionality, adds another layer of technical complexity—and consequently, increases development costs.

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Platform and Device Compatibility in Africa

Africa’s smartphone landscape is driven predominantly by Android, thanks to the affordability of low-cost devices. Platforms like EasyEquities, which allow users to invest in stocks, must perform well across these low-cost smartphones.

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Building a device-agnostic app is crucial when considering custom app development to ensure it reaches the broadest possible user base. Here’s why:

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• Low-end Android devices dominate Africa: Targeting high-end specs, as seen with apps developed in the US or Europe, reduces engagement with Africa’s most significant smartphone user base. Developers working on apps like EasyEquities must optimize for earlier Android versions, such as Android 10 or below, to ensure smooth performance even on devices with lower processing power. This impacts the overall app development cost and adds higher technical complexity.
• Progressive Web Apps (PWAs) offer potential solutions, minimizing data consumption and bypassing limitations due to app store distribution or device compatibility. PWAs allow users to access the app via a web page yet deliver near-native app functionality, which is ideal for low-bandwidth environments and is standard across many African regions.

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Target Optimization

Mobile-first, low memory consumption, and offline functionality in custom app development for Africa are non-negotiable considerations, especially in data-limited environments. Given the popularity of cheaper Android devices in regions like Nigeria or Ghana, optimizing infrastructure to meet these constraints is crucial in providing smoother user experiences. This consideration directly influences how much it costs to build an app for Africa compared to regions with more robust network infrastructure and high-end device saturation.

Designing with African Users in Mind (UX/UI)

Simplicity and Function-Driven Design

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The design of mobile apps in Africa can make or break user adoption. African app users appreciate simple, uncluttered interfaces and highly functional experiences. Considering the low literacy rates in some rural areas, financial platforms like EasyEquities must design their UI to be accessible to as broad an audience as possible.

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Critical elements of UX/UI for the African market include:

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• Minimalistic Design: Since many users are still new to digital financial services, less is more. Reducing clutter also means faster load times and minimal use of data.
• Data-Friendly UX: Offering progressive download features can ensure that the app only downloads images, videos, and more extensive data files as needed rather than consuming excess data upfront.
• Small Builds: Every megabyte counts for African users. Building lightweight apps with compressed resources can go a long way in reducing data costs. For example, EasyEquities could provide a "lite" version of its app with core features stripped down, significantly reducing user data consumption while maintaining essential operations.

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Localization Beyond Language

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Localization doesn’t stop at language translation—it involves creating a cultural fit for the app’s interface, workflows, and overall user experience. For instance, stock investing culture may not be as ubiquitous in some African nations, and so the app must feature content that focuses on investment education and explainers to gradually onboard new users.

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UX testing with real African users will introduce another layer of cost, but it ensures the app has a greater chance of success across diverse regions and user profiles. Localized UX testing is another crucial investment to ensure the long-term adoption of an app like EasyEquities.

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Local Payment Gateway Integrations

Local payment integrations are a vital consideration when calculating how much it costs to build an app. Africa has revolutionized mobile payments, with solutions like M-Pesa having become synonymous with everyday transactions. Other platforms like Airtel Money and Opay are also widespread across different parts of the continent.

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Most African users favor mobile wallets, which require entirely different payment integration than traditional Western solutions like PayPal or credit cards. Catering to a wide range of mobile-only banking systems will add to custom app development costs because each payment system requires the following:

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• API integration: Integrating apps like EasyEquities with various APIs corresponding to different mobile payment systems adds to the developer's workload. Testing functionality across all integrated wallets is also a crucial but time-consuming process.
• Currency Exchange and Local Currencies: African app developers must address currency conversion issues. When developing an app that deals with a financial operation like EasyEquities, you need a backbone that can accommodate fluctuating currency values in countries like Kenya, Nigeria, or Morocco. Additionally, some users may prefer to invest using local currencies rather than USD or EUR, and this integration isn’t always straightforward.
• SMS and USSD Availability: In regions with limited internet coverage, payment gateways and wallet providers (like M-Pesa ) often operate via USSD (Unstructured Supplementary Service Data) codes. Developers must ensure smooth USSD integration when working in regions relying on non-internet-based payment solutions.

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Database & Backend Infrastructure

The success of an app like EasyEquities hinges on the strategic selection of infrastructure models for backend operations. In developing an app for the African market, the backend system must be cost-effective and built for intermittent connectivity, unstable power grids, and regional differences.

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To mitigate these challenges, companies must:

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• Utilize Cloud Services: Cloud services like Amazon AWS, Google Cloud, and Microsoft Azure are famous for delivering stable back-end infrastructure in dynamic environments. For example, data can be stored on cloud services while enabling light integration with local servers on the ground for redundancy in case of connectivity failures.
• Ensure Offline Storage: When considering database management, it’s crucial to ensure feasible offline functionalities where stocks or portfolio insights, investment records, or other user-critical data can be updated and synced when reconnected.

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The cost of these backend solutions varies widely, depending on how complex and geographically broad your app’s infrastructure needs to be. African conditions necessitate reliable cloud infrastructure, but establishing and maintaining this infrastructure in areas with fluctuating electricity adds costs.

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Ongoing Maintenance and Updates

Creating and launching an app is only part of the journey—long-term maintenance and updates are inevitable. Maintenance considerations are particularly unique when building for the African market due to regional challenges such as varied device usage, connectivity, power outages, and security concerns.

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Urban-Rural Discrepancies

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With significant shifts in technology usage between urban and rural zones in Africa, updating apps that work equally well across different regions presents a challenge. Developers must focus on tracking updates for devices and areas with differing levels of mobile network expansion or contractions.

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• Maintenance During Power Fluctuations: Power outages remain common across several parts of Africa. Ensuring regular updates that require little processing power and are light on data allows the app to continue running even when electric or connectivity resources are low.

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Continuous Development for Evolving Connectivity

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Developers must keep track of emerging 4G and even 5G developments in urban areas while not alienating rural users who are still on 3G or EDGE networks. This fragmented connectivity creates multiple demands for app maintenance—urban users will expect real-time updates and better functionalities as infrastructure improves. In contrast, rural users expect steady and reliable minimal functionalities that can work at a lower bandwidth.

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The costs involved in maintaining an app reflect the complexity of infrastructure and the need to update based on evolving connectivity landscapes.

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Team Expertise and Location

When breaking down how much it costs to build an app, the expertise and location of your development team matter. Africa is home to a burgeoning tech industry, specifically in countries like Nigeria, Kenya, and South Africa, where young developers are crafting low-cost, mobile-first applications that suit African infrastructure.

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Local Expertise, Global Execution

For a financial app like EasyEquities, choosing a development team trained in developing local networks, mobile payment systems, and the nuances of rural connectivity can save time and money. Local development teams better understand the market's needs and constraints, from low-bandwidth environments to culturally relevant UX choices, leading to more cost-effective custom app development.

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For instance:

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• Nigerian Tech Hubs like Yaba: Yaba, Lagos, is Africa’s fastest-growing tech hub, producing seasoned developers who are experienced in building mobile-first applications.
• Kenya’s Silicon Savannah: Nairobi has a burgeoning developer ecosystem, especially in FinTech. Developers in Kenya may also offer more accessible access to develop integrated features for systems like M-Pesa.

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However, outsourcing to international developers with no local insight can lead to delays and extra costs accrued from not fully addressing the needs of African users early on.

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Hidden Costs & Miscellaneous Factors

Data and Connectivity Limitations: As addressed above, factoring in data costs and connectivity limitations can be one of the more significant hidden costs in African app development. For example, ensuring consistent app performance in rural areas with low network speeds will require extra investment in backend systems and design optimization. Additionally, app performance must be customized for users who only connect intermittently or have limited access to constant power sources.

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Mobile Payment Integration Costs: Another hidden cost involves the time and resources needed to test and work through local payment gateways. Each M-Pesa, Airtel Money, or Opay payment system requires custom development integrations. Each also operates under different regulatory rules specific to individual nations, raising administrative costs.

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Legal and Compliance Costs: Laws like South Africa's POPIA (Protection of Personal Information Act) govern how businesses handle personal data, while a patchwork of different regulations exists across the continent. Staying in compliance with these regulations to protect user data demands that developers spend time and resources ensuring their app adheres to local legal environments.

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These hidden compliance costs compound the need for real-time user privacy protection, especially when dealing with a financial app like EasyEquities.

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What Makes This App Category Unique in Terms of Development for Africa?

Building an app category like FinTech or stock trading platforms like EasyEquities in Africa presents a unique set of challenges expected in Western markets.

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Local Adaptations for Stock Market Investing

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Africa’s level of stock market penetration is relatively low compared to Western markets, but that is changing. For example, Nigeria's capital market has begun to flourish, and platforms like EasyEquities can provide users with easier access to local and international stocks. However, African stock market education is still developing, and an app like EasyEquities must not assume users are fully versed in stock trading. Instead, the platform must incorporate educational materials, explainer videos, and interactive guides. Providing this type of financial literacy requires significant content and UX investment since the content may vary from country to country. This may increase associated app development costs as educational content expands and local stock offerings diversify.

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Low-Bandwidth Operation Models

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Most investment or stock trading apps rely heavily on real-time data and push notifications, which require substantial bandwidth. In Africa’s lower-bandwidth environments, it’s essential to have low-data modes that allow users to function with reduced internet connectivity without losing access to critical financial data streams. This typically adds additional development costs, as the design must cater to a broad audience with varying degrees of high-speed connectivity.

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Trusted Local Payment Gateways

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Trust is a significant hurdle in building a FinTech app for previously underbanked populations like those in sub-Saharan Africa. Users may feel hesitant about sharing financial information online. Secure and well-integrated mobile wallets like M-Pesa can help bridge the gap in trust. Still, these integrations need to be localized for each market and undergo multiple rounds of testing to ensure smooth operation.

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Scalability

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While many African apps begin targeting urban, middle-income users in capital cities like Lagos, Accra, or Nairobi, an enormous growth opportunity lies in expanding into rural communities. An app like EasyEquities, while starting with middle-income urban investors, must later be scalable to rural users. This scalability from cities to rural areas demands an entirely different pricing strategy, where features may initially be kept basic but later scaled up, bridging the urban-rural divide.

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Ensuring that an app is scalable across multiple African geographies—each with its own regulatory environment, network coverage, and cultural preferences—adds considerably to development complexity and costs.

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Want to bring a mobile-centric, scalable app to the African market? 

At Scrums.com, we specialize in custom app development for Africa, accounting for payment integrations, low-bandwidth configurations, and tailored user experiences. Whether you’re looking to build a financial app like EasyEquities or any other app designed with African infrastructure in mind, we can help you develop a solution that fits local contexts. Let's discuss a custom estimate for your app optimized for the growing, dynamic African market.