Feb 28, 2013

Interesting facts about mobile money in Africa and beyond

The following are the interesting facts about mobile money in Africa and beyond in the last 12 months according to GSMA.

More than 30 million people undertook 224.2 million transactions totalling $4.6 billion during the month of June 2012 alone. This exceeds the 196.3 million transactions performed by Paypal customers on average each month during Q3 2012.

Mobile money industry continues to expand at an unparalleled rate, with 150 live mobile money services for the unbanked, 41 of which were launched in 2012.

 In addition, the industry is also becoming increasingly competitive, with 40 markets identified as having at least two different mobile money services available.

There are 81.8 million registered customers globally and with the total number of deployments on a global basis growing by almost 38 per cent.


Six mobile money services had more than 1 million active customer accounts and in the last 12 months, three of these services have crossed the 1 million active customers’ threshold.

More than half of all countries in sub-Saharan Africa have live deployments and 37 per cent of the 166 mobile networks operators in the region have already launched mobile money.

There are 56.9 million registered customers in sub-Saharan Africa and in June 2012, there were twice as many mobile money users as Facebook users in the region.

There are now more mobile money accounts than bank accounts in Kenya, Madagascar, Tanzania and Uganda, and more mobile money agent outlets than bank branches in at least 28 countries.

With over 520,000 registered agent outlets, there are now as many mobile money outlets as Western Union points of sale.

In June 2012, the total value of mobile money transactions was equivalent to more than 60 per cent of GDP in Kenya, more than 30 per cent of GDP in Tanzania, and more than 20 per cent of GDP in Uganda.