Sub-Saharan Africa’s Mobile Money Landscape

Sub-Saharan Africa’s Mobile Money Landscape

Sub-Saharan Africa accounted for as much as 45.6% of mobile money activity in the world, with a transaction value of $26.8 billion in 2018, a year-on-year growth of 15.3% from 2017, excluding bank-operated solutions, according to a GSMA report released last year.

Globally, transaction values increased from $34.9 billion in 2017 to $40.8 billion in 2018, a year-on-year increase of 16.8%. The report further notes that the industry is now processing over $1.3 billion per day, but while cash-in and cash-out transactions still represent the majority of mobile money flows, digital transactions grew at more than twice the rate driven largely by bill payments and bulk disbursements.