18
vritti
September 2017
Changing Lives
Africa leads the world in mobile financial services.
More than half of all mobile money services globally
are in Africa. East African countries such as Kenya,
Tanzania, Zimbabwe and Uganda have dominated
the mobile money growth in Africa. Now, West Africa
is also witnessing rapid growth in mobile money. As
shown in the figure 1 below, the West Africa’s share
of 90-day active mobile money accounts in Africa
has increased from 8% in 2011 to 29% in 2016. In
West Africa, the WAEMU countries are the prime
drivers of mobile money growth.