Mobile Money Transactions in Africa Surge 15% in 2024 (GSMA)

• Africa processed 65% of global mobile money transaction value last year, or $1.1 trillion.

• The continent also led in volume, accounting for nearly 82 billion of the 108 billion global transactions.

• Sub-Saharan Africa alone added $190 billion to GDP through mobile money use in 2023.

Africa continued to dominate the global mobile money market in 2024, both in volume and value, according to a new report released on April 8 by GSMA, the global association for mobile network operators.

“The State of the Industry Report on Mobile Money 2025” shows that mobile money services on the continent handled $1.105 trillion last year. That’s a 15% increase compared to 2023. Overall, the global value of mobile money transactions reached $1.68 trillion, up 16% year-on-year.

When it comes to the number of transactions, Africa handled 81.8 billion out of 108.4 billion recorded worldwide in 2024—about 74% of all mobile money activity worldwide. That’s a 22% jump compared to the year before...Read more on Ecofin Agency

Source: Ecofin Agency