Mobile money accounts in Sub-Saharan Africa 2016-2019

Sub-Saharan Africa leads the other regions worldwide regarding registered mobile money accounts. As of 2019, the number of registered accounts in Sub-Saharan Africa amounted to 469 million, close to 45 percent of the overall mobile money accounts in the world. Moreover, between 2016 and 2019, the global growth rate was at approximately 87.8 percent, while the number of accounts increased by roughly 64 percent in Sub-Saharan Africa.

After Sub-Saharan Africa, South Asia had the second largest share of the global registered mobile money accounts, at around 30 percent in 2019.

Number of mobile money registered accounts in Sub-Saharan Africa and globally from 2016 to 2019 (in millions)

Characteristic	Sub-Saharan Africa	World
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Release date

March 2020

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Region

Africa

Survey time period

2016 to 2019

Supplementary notes

Mobile money is a service through which a customer is able to receive, store, send, and spend money via a mobile phone device. Several entities provide the service, like telecom companies, mobile money operators, payments service providers, banks, etc.

According to the source, both the value and volume are processed via airtime top-ups, cash-ins, cash-outs, bill payments, bulk disbursements, international remittances, P2P transfers, and merchant payments.

The figures have been taken from several publications.

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