SSA accounts for nearly half of global mobile money accounts

There are more mobile money accounts in Sub-Saharan Africa (SSA) than in any other region in the world in 2020. The region accounts for 558 million of the total 1.2 billion accounts recorded in 2020, representing 43 percent of all registered accounts.

According to the latest GSMA report, the 1.2 billion represents a 13 percent growth from the previous year and the fastest growth was in markets where governments provided significant pandemic relief to their citizens.

The total transaction value also grew by 22 percent globally in 2020 to reach $767 billion out of which $490 billion went to the sub-Saharan Africa region. The growth in value was the first time the mobile money industry was processing over $2 billion in a day and has seen over double value since 2017.

While West Africa has the most Live Services – active mobile money operators – in the world, East Africa still dominates the number of accounts, active accounts, the volume and value of mobile money transactions.