The global focus for the growth of mobile money is shifting, however. While Sub-Saharan Africa is likely to remain one of the most important regions in the years to come, growth is slowing as the market is gradually nearing saturation. In many African countries (e.g., Kenya, Uganda, and Namibia), over 40% of the adult population already own a mobile money account. Asia, on the other hand, with its sizable population and rising economic power, is growing rapidly and is likely to become the largest market for mobile money soon. During 2015-'19, the number of registered account users in the regions South Asia and East Asia & Pacific grew at a CAGR 33% and 57%, respectively.
[1] Includes regions Middle East & North Africa, Latin America & Caribbean and Europe & Central Asia
Source: GSMA (2020); goetzpartners
[1] includes regions Middle East & North Africa, Latin America & Caribbean and Europe & Central Asia; Source: GSMA (2016, 2018, 2020); goetzpartners
USERS, TRANSACTION VOLUME & VALUE (in bn registered users, bn transactions, USD bn)
DEVELOPMENT OF MOBILE MONEY USERS PER REGION (in m registered users, 2015-2019)
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4) World Bank (2017): Global Findex Index Database, openknowledge.worldbank.org/bitstream/handle/10986/29510/9781464812590.pdf
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