Mobile banking transactions reached €7.8 billion in the WAEMU in 2015

Feb 09, 2016

About 347 million operations were carried out.

Mobile banking transactions reached a total volume of 5.121 trillion CFA francs (€7.8 billion) in the West African
Economic and Monetary Union (WAEMU) between January and September 2015, according to new figures from the Central Bank of West African States (BCEAO) seen by newspaper Sud Quotidien.

This represents 346.9 million transactions - up 36 per cent on the previous year, the BCEAO notes in a report on the situation of financial services in the region.

During the first nine months of 2015, the daily value of mobile banking transactions reached 18.96 billion CFA francs, while this figure was 4.4 billion CFA francs in 2013.

The WAEMU now has more than 20 million mobile money users against 11 million in 2013, said Tiémoko Meyliet Koné, the governor of the BCEAO.

Cote d’Ivoire is the WAEMU country with the highest percentage of penetration for mobile banking, over 50 points above the regional average, according to data released by the Association of Ivory Coast Banks and Finance Professionals (APBEF-CI).ADNFCR-2976-ID-801812130-ADNFCR