Tag: mobile money

The State of Mobile Money in Africa 2024,it’s evolving use cases and a couple of tough questions

The “GSMA State of the Industry Report on Mobile Money 2024” underscores mobile money’s critical role in global financial inclusion, notably in Sub-Saharan Africa with 548 million accounts driving significant GDP growth. West Africa’s boom in mobile money, spurred by innovative regulations and non-MNO services, contrasts with East Africa’s MNO-led model. Use cases are expanding beyond transactions to remittances and merchant payments, fueling economic development. Technological advances and regulation prompt this sector’s promising future, offering transformative potential especially in underbanked regions.

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