Payments News


The reach of West Africa’s mobile money sector is 13 times wider than local banks

“That rapid growth has been a boon for financial inclusion, mainly through mobile money. Thanks to expanding agent networks and more enabling regulations, there are now 13 times more active mobile money agents in West Africa than the total number of bank branches and ATMs, the report notes. Paga, a leading mobile money service in Nigeria, boasts a network of nearly 15,000 agents.”