Mobile money accounts are slowly replacing traditional bank accounts in sub-Saharan Africa, according to a new report by GSMA — the body that represents the interests of mobile operators worldwide.
The report, The Mobile Economy: Sub-Saharan Africa 2017, shows that there were 277 million registered mobile money accounts in the region at the end of 2016 while the number of live mobile money schemes had reached 140 across 39 countries, accounting for more than half of the 277 mobile money deployments worldwide.
