The 2021 report on mobile money which was released by the Global System for Mobile Communication Association (GSMA) has shown the performance and share of the global market.
However, the GSMA report rated the market performance of mobile money in 2021 to be the highest in ten years, while Africa also processed a justifying amount of transactions.
The chart shows the values of transactions globally in 10 years, by Region and by sectors in the African continent
Annual value of transaction processed globally in 10 years
The Chart represents a consistent increase in the value of mobile money transactions processed globally over the last ten years
According to the report by GSMA, 2021 saw the highest value of transactions processed, rounding up with a total of $1 trillion.
Read also: Summit chats digital transformation of Africa’s economy
Looking at the Year on Year (YoY) analysis of the report which was disclosed in the chart, the value of mobile money transactions carried out globally includes $I trillion in 2021, $795 billion in 2020, $631 billion in 2019, $533 billion in 2018, $380 billion in 2017, 2017, 291 billion in 2016, $221 billion in 2015, $160 billion in 2014, $101 billion in 2013 and $68 billion in 2012.
Value of transactions across sections in Africa
The report shows that East Africa processed the highest amount of transactions ending the year with a total of $403.4 billion.
According to the data report, West Africa followed East Africa with a total transaction of $239. 3 billion dollars processed, while central Africa ended the year in the third position with $50.1 billion.
Meanwhile, Southern Africa and Northern Africa ended the year with a lowest amount of transactions processed, compared to other sections of the continent which stood at $4.9 billion and $3.7 billion respectively.
Value of Transactions Processed by region
The chart represents the total number of mobile money transactions processed by region.
According to a GSMA report, Sub- Saharan Africa took the highest share of the amount processed by closing the year with a total of $697.7 billion.
Similarly, South Asia followed up by rounding up with a total of $156.3 billion as at the end of the year 2021 when it was lastly updated by GSMA.
East-Asia and Pacific ended with $141 billion in 2021, following East Asia and Pacific.
While other regions performed, the GSMA report shows that Latin America and the Caribbean, the Middle East and North Africa, and Europe and Central Asia recorded $30 billion, $13.7 Billion, and $6.3 billion respectively.
Meanwhile, the records show that the three regions recorded a very poor transaction compared to others that ended the year with a higher value.
