Africa Mobile Money Market Size, Share, Trends, key Players, Industry Insights, Opportunity and Forecast to 2027

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The Africa Mobile Money Market to exhibit a CAGR of 22.10% during 2022-2027.

According to IMARC Group’s latest report, titled “Africa Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the Africa mobile money market trends.

The Africa mobile money market size reached US$ 450 Million in 2021. Looking forward, IMARC Group expects the market to exhibit a CAGR of 22.10% during 2022-2027. Mobile money represents a payment type based on accounts held by a smartphone operator and accessible from the mobile phones of the subscriber. It offers simple person-to-person transactions rather than complex banking ones. Mobile money provides an easy, fast, secure, and cost-effective way of making payments. It is used for performing peer-to-peer fund transfers, bill payments, airtime top-ups, etc., across the country. 

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Africa Mobile Money Market Trends:

The emerging trend of convenience in service delivery, expansion of smartphone agent networks, the high usage of cellphones, and the execution of interoperability are among the primary factors driving the Africa mobile money market. Besides this, the launch of various policies by the government bodies to strengthen this payment system, provide services to people who have limited access to traditional financial institutions, and eliminate the threat of theft is further augmenting the market growth. Moreover, the development of mobile money interoperability, which has boosted the efficiency and accessibility to transfer funds quickly for several applications, is also catalyzing the market across Africa. Apart from this, the introduction of EMI (electronic money issuers) guidelines by the bank for performing monetary transactions is acting as another significant growth-inducing factor. Additionally, the rising internet penetration, the elevating financial literacy, the ease of accessibility, 24/7 availability, security, lower transaction costs, and user-friendly properties are also stimulating the market growth. Furthermore, various financial services are offered through this platform, including microloans, insurance, and hospitalization covers, which are expected to bolster the Africa mobile money market in the coming years. 

Africa Mobile Money Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Africa mobile money market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • MTN
  • Orange
  • M-Pesa
  • Tigo-Pesa
  • Airtel Money

Key Market Segmentation:

The report has segmented the Africa mobile money market on the basis of technology, business model, transaction type and region.

Breakup by Technology:

  • USSD
  • Mobile Wallets
  • Others

Breakup by Business Model:

  • Mobile Led Model
  • Bank Led Model

Breakup by Transaction Type:

  • Peer to Peer
  • Bill Payments
  • Airtime Top-ups
  • Others

Breakup by Country:

  • Tanzania
  • Kenya
  • Uganda
  • Ghana
  • Others

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Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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