15 Oct eCommerce Payments Africa - More Facts on Smartphones and Mobile Money for Online Payments

Posted at 16:50h

In 2018 globally there were 866m registered mobile money accounts (20% up on 2017) and 272 mobile money deployments live in 90 countries, processing $1.3bn daily. 

Almost half of all global mobile money accounts are in Sub-Saharan Africa and they drive two thirds of the volumes of global mobile money.  Volumes have grown from $2.5bn in 2010 to $27bn in 2018.

More than 50% of the adult population in Ghana, Côte d'Ivoire, Benin and Senegal have an active mobile money account.  At the end of 2018, there were almost 400m mobile money accounts in Sub-Saharan Africa.

West African mobile money has grown from a 2% share in 2010 to 32% in 2018.  East Africa has declined from a market dominance of 96% in 2010 to 58% of total Sub-Saharan African active accounts.  Mobile money merchant payment values doubled in this period.

GSMA see future growth in mobile money across Sub-Saharan Africa taking place in key areas including eCommerce and an untapped smartphone opportunity.  Smartphone penetration will close to double between 2018 and 2025. During this period, mobile smartphone access will add almost 300m new consumers.

Mobile phone share of internet connectivity was as follows at the end of 2018: South Africa 65%, Kenya 76%, Nigeria 78%.

Please contact us to get your online payments across Africa sorted.

 

Thank you to GSMA for the valuable insights - "The Mobile Economy - GSMA Intelligence." https://www.gsmaintelligence.com/research/?file=809c442550e5487f3b1d025fdc70e23b&download. Accessed 14 Oct. 2019.