Nigeria, others to push mobile money accounts to 110 million by 2024, says GSMA

Thursday, March 7, 2019

By Ugo Unwuoso

The GSMA has predicted that the current reforms in Mobile money where telecommunications operators will be licensed among others in Nigeria, Egypt and Ethiopia are expected to spark a wave of adoption which could lead to more than 110 million new mobile money accounts being added over the next five years.

The GSMA stated this while unveiled its eighth annual ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation, especially in emerging markets.

The report provides a comprehensive picture of mobile money adoption and usage around the globe. At the end of 2018, there were more than 866 million registered accounts in 90 countries – a 20 per cent increase from 2017.

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Source: The Guardian Nigeria (link opens in a new window)

Finance, Telecommunications
financial inclusion, fintech, telecommunications