Mobile money in Africa: figures and uses
Mobile money has become a daily habit: paying, receiving, transferring, saving, collecting. Its growth is transforming banking, commerce and the way financial inclusion is measured.
Mobile money has become an African economic infrastructure. It is used to send money, pay a merchant, receive a salary, settle a bill or sell online without a traditional banking terminal.
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- GSMA estimates that mobile money exceeded 2 000 billion dollars in transactions worldwide in 2025.
- The World Bank indicates that 58 % of adults in sub-Saharan Africa held a financial account in 2024, compared to 49 % in 2021.
- Still according to the Global Findex 2025, 40 % of adults in sub-Saharan Africa had a mobile money account in 2024.
GSMA and World Bank data show massive adoption, especially in sub-Saharan Africa. Mobile money reaches users who have long been excluded from banks, notably thanks to agent networks.
Driver countries, agents and financial inclusion
In many markets, it replaces part of the basic banking services: deposit, withdrawal, transfer, merchant payment and micro-savings. Its success stems from the proximity of agents, the simplicity of the phone and the absence of a traditional bank account for some users.
Established operators benefit from vast networks. New players have often attacked the market through lower fees and user experience. For SMEs, the issue is not just cost: reliability, caps, accounting, refunds and integration with online sales must also be considered.
East Africa led the way, West Africa accelerated with fee competition, and several Central African markets are progressing as merchant payments become more common.
- Accepting payments without daily reconciliation.
- Overlooking withdrawal caps and fees.
- Using a personal account for professional activity without tracking.
SMEs, accounting and merchant payments
In mobile money in Africa, data can move fast. The right reflex is to check the date of the figures, the source used, the country concerned and the practical conditions. Information that is useful today can become misleading if the exchange rate, regulation, fees, global price or access to financing change.
The most reliable reading therefore combines three levels: a recent public figure, a concrete example and a local verification. It is this combination that makes it possible to move from an appealing idea to a more solid decision.
For households as well as merchants, mobile money leaves a trail. This trail can become an advantage: payment history, proof of collection, expense tracking, separation of uses. But it can also create confusion if several activities go through the same account.
SMEs would benefit from treating mobile money as a fully-fledged cash register. Every evening, payments should be reconciled with sales, refunds and withdrawals. This simple discipline avoids confusing transaction volume with actual profit.
Key takeaways on mobile payments
Mobile money has become a payment, transfer and collection infrastructure for households and SMEs.
Mobile money first grew thanks to person-to-person transfers. The next stage is playing out in merchant payments, bills, salaries and services to SMEs. The more professional the use becomes, the more important fee transparency, support quality and accounting exports become.
Also read
- Mobile money in West Africa: Orange Money, MTN, Wave
- Mobile money and business: how African SMEs collect payments
Sources
GSMA, State of the Industry Report on Mobile Money 2026 ; World Bank, Global Findex 2025.
FAQ
Why is mobile money growing in Africa?
It meets a simple need: transferring, paying and collecting without a traditional bank account, thanks to an accessible agent network.
What are the most common uses?
Person-to-person transfers, merchant payments, bills, salaries, online purchases and collections by small businesses.
What is the key challenge for SMEs?
Separating professional payments, tracking transactions and avoiding confusion between collected volume and actual profit.
