(3 minutes read)
· In 2019-20, Africa over 50.7 million new registered mobile money accounts were opened in Africa
· The COVID-19 has accelerated the need for mobile and digital technology on the African continent and has created a platform for innovation
· New companies are proliferating offering new and innovative services. This is also unlocking employment opportunities
In 2019-20, Africa over 50.7 million new registered mobile money accounts were opened in Africa. This takes the total number of registered accounts in the region to 481 million and the total transaction volume and value for mobile money accounts during this period was 24 billion and US$461 billion respectively.
The COVID-19 has accelerated the need for mobile and digital technology on the African continent and has created a platform for innovation. New companies are proliferating offering new and innovative services. This is also unlocking employment opportunities.
An important segment that is receiving focused attention from planners of African countries is skill formation. The GSMA Inclusive Tech Lab which was launched in 2019 provides an industry collaboration ground to drive innovation in inclusive technologies for the underserved. This effort follows with the launch of the GSMA Mobile Money Interoperability Test Platform (ITP) in March 2020. This project aims to help make transactions more seamless in emerging markets.
