Telecom
GSMA Reveals Sub-Saharan Africa as Mobile Money Epicentre

Mobile money has surpassed two billion registered accounts, with over half a billion active monthly users across the globe in the 25 years since its launch.

Leading this market growth is Sub-Saharan Africa with a total of 1.1 billion registered accounts and more than 280 million active 30-day accounts, as recorded at the end of 2024.
This is based on the State of the Industry Report on Mobile Money 2025, compiled by the GSM Association’s (GSMA’s) mobile money programme data and insights team.
Now in its 13th year, the report details the progress of mobile money, with the latest edition indicating transaction volumes and values for mobile money accounts experienced double-digit growth in 2024.
Over 108 billion transactions worth $1.68 trillion were processed through mobile money accounts, for the period under review. This is equivalent to $3.2 million worth of transactions per minute, says Vivek Badrinath, GSMA director-general.
Year-on-year, transaction volumes increased by 20%, while transaction values grew by 16%, up from a 13% increase in 2023.
According to the report, the industry took 18 years to achieve one billion registered accounts and 250 million active users from 2001, doubling in size in the following five years.
Mobile money accounts have “consistently” maintained growth rates above 10% since 2020. In 2024, registered accounts increased by 14% year-on-year to 2.1 billion, while active 30-day accounts grew by 11% to reach 514 million, the report reveals.
Badrinath highlights that Sub-Saharan Africa remains the epicentre of mobile money, accounting for most new registered and active accounts.
“Mobile money has emerged as a powerful driver of financial inclusion and economic growth. Its continued success depends on supportive regulatory environments that promote innovation and accessibility, and help unlock the full socio-economic potential.
“To ensure mobile money remains accessible, affordable and safe, it is vital for governments and regulators to work with financial service providers to support financial literacy programmes, empowering underserved populations and opening new opportunities for financial decision-making.
“Looking ahead, I believe we are well-positioned for the next wave of expansion, where mobile money emerges as the preferred payment service, driving business growth, strengthening economies and shaping a better future for all.”
The report also notes that mobile money continues to play a key role in economic development. By the end of 2023, the total gross domestic product (GDP) of countries with mobile money services was over $720 billion higher than it would have been without them, reflecting a 1.7% increase in GDP driven by mobile money.
“In Sub-Saharan Africa alone, year-on-year, mobile money added around $190 billion to GDP in 2023, demonstrating its sustained economic influence.”
Regional phenomenon
Mobile money is used to buy goods and services, save money and send money to friends and family – both at home and abroad.
Based on the report, the bulk of mobile money accounts in the Sub-Saharan Africa region was driven by adoption and use in East and West Africa.
East Africa was the leading driver of monthly active account growth in 2024, followed by Southeast Asia and West Africa.
Introduced as an offering for financial inclusion for the unbanked, mobile money offerings, such as East Africa’s M-Pesa, have become the region’s most popular mobile money platform.
According to the report, over two-thirds of registered accounts in 2024 came from Sub-Saharan Africa. In 2024, there were more than one billion registered accounts in Sub-Saharan Africa – twice as many as in 2020.
Compared to forecasts from 2019, the GSMA found that registered accounts grew faster than expected, with data from 2024 showing 75% more registered accounts in Sub-Saharan Africa than estimated.
“Growth in active 30-day accounts was driven by East Africa, which contributed 32% of new accounts in 2024, closely followed by Southeast Asia (28%). West Africa and South Asia contributed 21% and 19%, respectively. Double-digit growth in active monthly accounts in 2024 confirmed that millions continue to rely on mobile money for their daily financial needs.
“Between 2014 and 2024, the number of active 90-day accounts as a proportion of SIM cards in Sub-Saharan Africa rose from 10% to 39%. Across other regions, the highest ratio of active 90-day accounts to SIM cards was 8% in South Asia. While some countries in Sub-Saharan Africa can be considered relatively mature, there is still room for growth – both in Sub-Saharan Africa and in other regions.”
Southeast Asia recorded the second-fastest growth rate for active monthly accounts, behind the Middle East and North Africa.
“The region saw active 30-day accounts grow faster than registered accounts, supported by enabling regulatory environments in markets including Cambodia, Fiji, the Philippines and Vietnam.”
The GSMA also reveals that in East Asia and the Pacific many mobile money providers have evolved into full-service financial platforms, offering a broad range of products to match user needs. The most successful providers are often those who are actively innovating the breadth of their offerings, it says.
“Mobile money providers are increasingly offering adjacent financial services like credit, savings and insurance. As of June 2024, 44% of providers offered credit services, making it the most used adjacent financial product. Savings services were offered by around a third of providers, while insurance remains the least common with around 28% of providers offering it.”
Despite progress, the report highlights that several barriers to adoption remain, notably among women. It states that among 12 countries surveyed, eight continue to exhibit a gender gap in mobile money ownership, with little improvement since 2023.
“Limited awareness and low digital financial literacy are significant barriers, particularly for women. However, women who hold mobile money accounts are nearly as likely as men to have used them in the past 30 days.”
Badrinath states: “As we continue our work to close the usage gap, and drive digital and financial inclusion, it is hugely encouraging that almost 60% of mobile money providers have introduced digital skills initiatives. These efforts not only boost financial awareness and combat fraud, they also help to break down the barriers that prevent millions – especially women – from fully benefitting from mobile money services.”
Telecom
Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has dismissed reports that bank accounts not linked to a Tax Identification Number (TIN) will be frozen or automatically debited from January 1, 2026.

Taiwo Oyedele
Oyedele described the claims as false and misleading, warning Nigerians against panic over misinformation surrounding recent tax and financial reforms.
In a post on his X handle Tuesday morning, he wrote: “Don’t let anyone manipulate you. Your bank account is safe. Misinformation makes you panic and fear a reform that is designed to help you.
“When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise.”
He stressed that no provision in the new tax laws authorises the freezing of bank accounts, adding that the rumours are part of widespread misrepresentation of the reforms.
The committee chairman reiterated that the reforms are intended to simplify Nigeria’s tax system and ease the burden on ordinary citizens, not to impose punitive measures on bank customers.
Telecom
Amazon Blocks 1,800 North Koreans From Job Applications

US tech giant, Amazon has disclosed that it blocked more than 1,800 North Koreans from applying for jobs, amid growing concerns that Pyongyang is deploying large numbers of IT workers overseas to earn and launder funds.

Amazon
In a LinkedIn post, Amazon’s Chief Security Officer, Stephen Schmidt, said North Korean nationals have been attempting to secure remote IT roles with companies around the world, particularly in the United States.
He noted that the company recorded nearly a one-third increase in such applications over the past year.
According to Schmidt, many of the applicants operate through so-called “laptop farms” — computers physically located in the US but remotely controlled from abroad.
He warned that the issue is not unique to Amazon and is likely occurring at scale across the tech industry.
He added that common red flags include incorrectly formatted phone numbers and questionable academic credentials.
The issue has previously drawn the attention of US authorities. In July, a woman in Arizona was sentenced to more than eight years in prison for running a laptop farm that helped North Korean IT workers obtain remote jobs at more than 300 US companies.
Officials said the scheme generated over $17 million in revenue for both the woman and North Korea.
Last year, South Korea’s intelligence agency also warned that North Korean operatives were using LinkedIn to pose as recruiters, approaching South Koreans working at defence companies in an attempt to steal sensitive technological information.
“North Korea is actively training cyber personnel and infiltrating key locations worldwide,” Hong Min, an analyst at the Korea Institute for National Unification, told AFP.
He added that, given Amazon’s business model, the motivation behind such operations is largely economic, with a high likelihood of attempts to steal financial assets.
North Korea’s cyber warfare programme dates back to at least the mid-1990s and has since expanded into a cyber unit of about 6,000 personnel known as Bureau 121, according to a 2020 US military report.
In November, Washington announced sanctions against eight individuals accused of being state-sponsored hackers, alleging their illicit activities were carried out to fund North Korea’s nuclear weapons programme.
The US Treasury has also accused North Korea-linked cybercriminals of stealing more than $3 billion over the past three years, primarily through cryptocurrency-related crimes.
Telecom
Treepz Launches Direct Flight Bookings to UK, Canada, UAE and 210 Global Destinations

Treepz, Africa’s leading mobility and travel technology company, has officially launched direct flight bookings on its platform, enabling customers to search, compare and book flights to more than 210 destinations worldwide, including the United Kingdom, Canada and the United Arab Emirates.

The development marks a major milestone in Treepz’s transition from a mobility provider into a fully integrated travel platform. With the new service, travelers can now complete the entire booking process — from flight search to payment — directly on the Treepz website without relying on multiple agents or third-party platforms.
Speaking on the launch, Mr. Onyeka Akumah, Chief Executive Officer and Founder of Treepz, described the initiative as a defining moment for the company and for travel access across Africa.
He said launching flight bookings to serve customers with flights to over 200 destinations was a major achievement, noting that travelers could now search for flights, enter their details, make payments with their cards, and complete bookings instantly on the platform without delays or switching between multiple websites.
The launch comes at a critical time for the African travel market. December is widely regarded as the busiest travel season on the continent, driven by holiday vacations, family reunions, weddings, festivals and end-of-year celebrations.
Millions of Africans travel locally and internationally during this period, often facing challenges with slow booking systems, unclear pricing and fragmented services.
Treepz’s new flight booking system is designed to address these challenges by offering a faster, more intuitive and reliable experience.
Customers can now search and book flight tickets directly on the Treepz website, compare prices and travel options in real time, make payments using any card option, and complete bookings faster without switching platforms.
Treepz has outlined ambitious plans for 2026, including unlocking access to over six million hotels globally, which will allow travelers to book flights and accommodation together in one seamless flow.
The company also plans to expand its car rental services into Europe and South America, further strengthening its position as a one-stop travel ecosystem.
According to Akumah, these developments will significantly reduce planning time for both leisure and corporate travelers, while giving customers more control and convenience.
Treepz has already facilitated more than six million movements across multiple cities and countries, ranging from daily commutes and corporate transportation to group travel and event logistics. With active operations across Africa and recent expansion into Canada, the company continues to grow its international footprint.
The addition of flight bookings strengthens Treepz’s ability to serve global travelers while maintaining its reputation for reliability and customer-focused service.
By integrating flights, accommodation, ground transportation and experiences into one platform, Treepz is positioning itself as more than a mobility provider.
The company is evolving into a comprehensive travel solution designed for modern travelers who value speed, clarity and convenience.
Industry analysts say the move could redefine travel access across Africa, particularly during peak seasons when demand for efficient booking systems is highest.
With this launch, Treepz has taken a bold step toward building a unified, tech-driven travel ecosystem that connects Africa to the world.
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