June 2

A Report by Bill Gate’s Foundations Shows Nigeria’s Impressive Mobile Money Performance

According to recent research, there has been a 41% increase in the number of registered agents for mobile money transfers in Nigeria. The Bill & Belinda Gates Foundation helped the GSM Association (GSMA) put up the State of the Industry on Mobile Money Report 2023.

Mobile money account ownership has increased from 16% to 22% among all adults in Nigeria who are aware of it and have used a mobile phone in the last year. In 88% of all adult users of mobile money, the account is registered in the user’s name (a nine percentage point rise year over year). So says the report.

Photo courtesy of USAID Digital Development.

Source: Business Insider Africa (link opens in a new window)

Finance, Technology
financial inclusion, gender equality, mobile finance, remittances, research