Mobile money deployments soar in SS. Africa

Mobile-moneyFrom ALLOYCE KIMBUNGA in Dar-es-Salaam, Tanzania,
DAR-ES-SALAAM, (CAJ News) – SUB-Saharan Africa accounts for more than half of all mobile money deployments worldwide and is pioneering a range of new mobile money use cases.There were 277 million registered mobile money accounts across Sub-Saharan Africa at the end of 2016, plus 1,5 million registered agents.
This is according to the State of Mobile Money in Sub-Saharan Africa’ presentation made available at the GSMA Mobile 360 – Africa in Dar-es-Salaam, Tanzania.It reveals that the number of live mobile money schemes in the region had reached 140 across 39 countries at the end of last year, accounting for more than half of the 277 mobile money deployments worldwide.The new study points to a decade of growth in mobile money services in the region following the launch of M-Pesa in Kenya in 2007.It notes that there are now seven markets in the region where more than 40percent of adults are active mobile money users: Gabon, Ghana, Kenya, Namibia, Tanzania, Uganda and Zimbabwe.
“Mobile money is now achieving mass-market adoption in all corners of Sub-Saharan Africa, enabling millions of people to access financial services for the first time and contributing to economic growth and social development,” said Mats Granryd, Director General of the GSMA.“Mobile operators in the region today are using mobile money to create new financial ecosystems that can deliver a range of innovative new services across multiple industry sectors, including utilities and agriculture.”Mobile money users have historically been concentrated in East Africa, home to major mobile money markets such as Kenya, Tanzania and Uganda.
However, the latest data suggests that user growth is now being driven by other markets in the region, notably West Africa. Almost 29 per cent of active mobile money accounts in Sub-Saharan Africa are now based in West Africa, compared to just 8 percent five years earlier.
– CAJ News

Short URL: http://cajnewsafrica.com/?p=21140

Posted by on Jul 12 2017. Filed under Africa & World, Featured, Finance, Mobile money, National, News, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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