Africa Tops Global Mobile Money Transactions

Africa has cemented its position as the global leader in mobile money, processing $1.4 trillion in transactions in 2025, according to the latest State of the Industry Report on Mobile Money 2026 by GSMA.

The report highlights a mobile money ecosystem that has reached unprecedented global scale, with 2.3 billion registered accounts and 593 million active users worldwide, as digital financial services continue to expand beyond basic payments.

Globally, more than $2.1 trillion flowed through mobile money platforms in 2025, marking a major milestone as transaction values doubled in just four years, driven by rising usage and deeper integration into everyday economic activity.

Within this global growth, Africa remains dominant, accounting for the majority of mobile money activity, with 1.2 billion registered accounts and 347 million active users across the continent.

East Africa continued to lead, recording $806 billion in transaction value and 193 million active accounts, while also driving the rapid expansion of merchant payments, now the fastest-growing use case globally.

West Africa followed with $498 billion in transactions, emerging as a key corridor for cross-border payments and remittances, supported by over 517 million registered accounts.

Central Africa posted $105 billion in transaction value, while North Africa recorded the fastest growth in transaction volumes at 60%, reflecting increased regulatory support and fintech expansion. Southern Africa, though smaller at $8 billion, saw strong growth in active users, pointing to untapped market potential.

The report shows the industry is entering a new phase globally, shifting from access to active usage. Monthly activity rates are rising as users increasingly rely on mobile money for daily transactions, not just occasional transfers.

At the same time, the ecosystem is expanding beyond payments. Merchant transactions grew sharply to $155 billion, while interoperability between banks and mobile wallets intensified, with transfers exceeding $160 billion in each direction, signalling deeper integration with formal financial systems.

However, the report also flags emerging risks globally, including rising transaction taxes, cross-border data restrictions, and increasing fraud, alongside persistent gaps in financial inclusion such as gender disparities.

Overall, the GSMA report underscores a structural shift in global finance, with mobile money evolving from a tool for financial inclusion into a core pillar of digital economies—led largely by Africa.