Thursday
February 20
2020

Malawi Mobile Money Numbers Dive After Account Cull

By Chris Donkin

Malawi’s central bank highlighted room for improvement in the country’s mobile money industry, as a programme to remove dormant accounts caused a drop of 13 per cent in the total registered number in Q4 2019.

In its national payments system report the Reserve Bank of Malawi said the number of mobile money accounts in the country fell to 6.2 million by the end of 2019, down 13 per cent on the figure reported at end-Q3.

During the quarter registered agent numbers increased to 52,200 (up 4 per cent sequentially).

Photo courtesy of INDIVIDUELL MÄNNISKOHJÄLP.

Source: Mobile World Live (link opens in a new window)

Categories
Finance
Tags
financial inclusion, fintech, LMICs, mobile money