Africa leads in mobile banking

Friday, January 24, 2014

Mobile banking activity is highest in Africa, led by Nigeria, South Africa and Kenya – which has the reputation for being the world’s mobile money pace-setter with M-Pesa.

This is according to a new report by mobile trade association, MEF, which analysed data from 10,000 respondents in 13 countries.

The MEF says that in 2013, 15% of all mobile media users analysed made some form of mobile payment or transaction to purchase goods – 7% of which did so through a mobile wallet.

Source: BusinessTech (link opens in a new window)

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financial inclusion, financial innovation, mobile finance, mobile money