Africa Mobile Money Market - Forecast to 2020 - New Market Report

From: Fast Market Research, Inc.
Published: Thu Aug 27 2015

Africa Mobile Money Market by Transaction mode (NFC/Smart Cards, Direct Mobile Billing, Mobile Web/WAP Payments, SMS, STK/USSD, and others), by Nature of Payment, by Location, by Type of Purchase, and by Country - Forecast to 2020

Mobile money service facilitates users to perform secured mobile payments and transfers over their mobile phones. Moreover, this service helps users to send and receive remittances, pay bills, make airtime transfers, receive and send money to near and remote locations, and enable movie or travel ticket purchases, among various others. Further, the simplicity, flexibility, convenience, and security provided by the mobile money services and mobile wallets over the traditional money payment and transfer techniques are encouraging the users to consider mobile money services. Thus, these benefits of mobile money services have comprehensively enhanced the perspectives of the users with regards to mobile money transactions and payments.

Increased penetration of mobile devices, rise in interoperability, and creation of new revenue stream for the stakeholders are some of the key factors driving the adoption of mobile money services in Africa. On the other hand, security concerns and insufficient knowledge about mobile money services are the restraining factors hindering the growth of the Africa mobile money market. Considering this, the report further helps to identify the latest patterns and trends intensifying the progression in the mobile money market across African countries.

Full Report Details at

The mobile money service is fast gaining momentum in the African market. This has in turn benefited the stakeholders, which include Mobile Network Operators (MNOs) and financial institutes such as banks, payment platform providers, and payment agents to leverage and expand their provisions in this market. Considering this, the mobile money services has also been chiefly accountable for increasing the average revenues for these stakeholders in the mobile money ecosystem.

Kenya, Uganda, and Tanzania have the highest adoption and usage market of mobile money. Mozambique, Malawi, and Madagascar are gradually considering these mobile money services and in turn offer a lot of opportunities for the vendors in the Africa mobile money market.

The report will help the market leaders/new entrants in the Africa mobile money market in the following ways:

1. This report segments the market of Africa mobile money into transaction modes and types of purchases covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across location types and nature of payments in all the major countries.

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