Mobile money adoption is expanding and has become a critical driver of financial inclusion in developing countries – especially in Kenya and Tanzania where more adults have mobile money accounts than bank accounts.
CGAP (Consultative Group to Assist the Poor) conducted a survey titled ‘Financial Inclusion Insights Survey’ to record the mobile money usage and activity in four African countries (Rwanda, Ghana, Kenya and Tanzania) and track the development of mobile money in the region.
Here are some key insights of mobile money in these countries:
- Kenya have the highest adoption rate of mobile money (63%)
- 50% of Tanzanian are financially included
- Rwandan mobile money users are most likely to pay bills via their mobile devices
- Out of the 17% Ghanaian population with active mobile money account, 18% are living on above $2.50 per day
Read the original interactive publication on CGAP here.
Click here to view an infographic of Tanzania’s Mobile Money Revolution on CGAP.