Broadcasting
True financial inclusion calls for smaller markets to receive equal attention to larger ones
By John Ngari, Director, Africa MNOs at Onafriq
The potential for mobile money and digital payments to drive financial inclusion is immense. We can see this potential being unlocked on the African continent as it accounts for 70% of the world’s $1 trillion mobile money value and registered a 12% growth in mobile money accounts to 1.75 billion in 2023.
John Ngari,
This is opening a number of new opportunities for economic growth and development as more robust and connected payment networks are breaking down geographical barriers, opening up access to new markets and enabling anyone to send and receive payments quickly and easily from and to anywhere in the world.
However, these significant benefits are largely being realised and felt in Africa’s larger, and key, markets such as Nigeria, South Africa, and of course Kenya- where mobile money was first launched and popularised on the continent. While these markets have reached greater levels of digital payments maturity, smaller and more underdeveloped markets are often passed over, leaving many still excluded from economic participation and financial freedom.
And yet, the truly transformative power of mobile money and digital payments can be most realised in these overlooked economies where the reliance on cash, a lack of traditional bank accounts due to limited infrastructure and access, and the substantial penetration of smartphones and increasing internet connectivity has created the ideal confluence of circumstances that will pave the way for a more inclusive and resilient financial future.
Realising the enabling power of digital payments
The biggest drivers of mobile money adoption in Africa is its accessibility and ease of use. Unlike traditional financial services, there’s largely no need for extensive paperwork, a credit and financial history, or a physical presence within a brick-and-mortar branch in order to gain access to these services.
This low barrier to entry, along with mobile money’s ability to enable economies beyond just transactions and empower both individuals and enterprises, makes it particularly impactful for underserved markets. Within these regions, mobile money and the digital payments ecosystem has the power to serve as catalysts for economic growth, poverty reduction, and enable marginalised communities with the financial freedom to manage their day-to-day lives, start or expand their businesses, and invest in their futures.
A concerted effort towards a single goal
It’s important that all levels of an economy work towards achieving the crucial objective of financial inclusion. Collaboration is a key component in creating and maintaining an environment that creates more opportunities for inclusive growth and ensures economic resilience.
Not only do governments play a pivotal role in developing and implementing the policies and regulations that foster a supportive framework for financial services, but investment from both the public and private sectors are essential to building the necessary digital payments infrastructure that will underpin financial inclusion on the continent. Meanwhile, fintech firms can continue to drive innovation in this space that will achieve the desired convenience, speed and accessibility within the payments space.
We can see this value already starting to be realised across smaller markets like Eswatini where the Central Bank established a FinTech unit to spearhead the development of digital payments in the country in 2018, in South Sudan where the introduction of mobile money in 2017 has enabled development organisations to distribute cash assistance securely, and Somalia which recently enabled digital payments to be made between the country’s banks, making payments easier.
And, in Ethiopia, non-banks were enabled to provide mobile money services in 2020 as mobile money services could lift 700 000 people out of poverty, add $5.3 billion to the country’s economy, increase tax revenue by $300 million, and essentially position the country to adapt to economic downturns according to the GSMA’s 2023 Mobile Money in Ethiopia report. Recognising this period as a key moment in the country’s transformation into a financially inclusive economic powerhouse, Onafriq has also strengthened its presence in Ethiopia through a number of partnerships with financial institutions, mobile network operators, and other key decision makers. This includes partnerships with Ethio telecom and M-PESA Safaricom to enhance and streamline remittance flows and address the shortage of forex while providing customers with much-needed funds.
It’s clear then that when all these elements work in harmony, they can break down barriers to financial access, enabling people and businesses to participate more fully in the economy, thus driving sustainable development and economic growth in these underserved regions. And, investing in these smaller, underserved markets – which represent a significant portion of the continent’s population – is simply integral to realising true financial inclusion across Africa.
When everyone is able to access financial services we can foster inclusive growth, stimulate local economies and open up access to new markets and opportunities, connecting the continent through sustainable economic development.
American Tower Corporation (ATC) Nigeria and the ProFuturo Foundation have announced a strategic partnership aimed at transforming the educational sector through digital innovation and technology.
The programme, which is being implemented in conjunction with the Kukah Centre, is expected to benefit over 5,600 school children and 34 teachers across 11 schools in Kano, Kebbi and Taraba states.
The initiative is part of a broader global collaboration between American Tower and ProFuturo Foundation, targeting education gaps in seven African and Latin American countries.
Speaking at the signing ceremony, ATC Nigeria Chief Executive Officer, Mr Pieter Van Der Westhuizen, said the partnership was aligned with the company’s Digital Communities programme, which facilitates technology-driven learning, financial literacy for adults and access to healthcare services in underserved areas.
“At ATC Nigeria, we are proud to support this impactful collaboration, which brings digital tools directly into classrooms. This partnership is not just about equipment—it’s about giving children the future they deserve,” he said.
General Manager of ProFuturo Foundation, Ms Magdalena Brier, described the partnership as a crucial step towards bridging the digital divide and empowering vulnerable communities.
“This alliance reinforces our mission to transform lives by improving access to education and digital tools. Every child and teacher reached through this programme is a testament to what we can achieve together,” she said.
Each school will be equipped with a digital learning kit, which includes computers, tablets, routers, projectors and other essential components tailored to foster interactive learning—even in areas with limited connectivity.
The initiative seeks to strengthen innovative teaching practices and promote inclusive education through digital transformation, with active support from local authorities who were present at the official launch.
About ₦2 billion changes hands in bets every day (KPMG Gaming Outlook 2025), driven by a 60-million-strong punter base that treats wagering as both entertainment and side-hustle. Industry revenue is on pace to hit US $3.63 billion in gross gaming revenue (GGR) by December 2025 – roughly the size of Nigeria’s entire recorded-music market.
Smartphones rule this universe: more than 90 percent of slips now start and finish on a handset, which is why the market leaders obsess over data-lite apps and USSD deposits almost as much as odds feeds.
Our Litmus Test for “Best”
To separate hype from heft we graded each book on the nine variables that still matter after the banner ads fade:
- Odds edge & market depth – average margin on EPL, NPFL and niche sports
- Live tech stack – cash-out latency, in-play uptime, streaming rights
- Payout speed & reliability
- Responsible-gaming tools (RG) – time-outs, self-exclusion, deposit caps
- Licensing strength & dispute history
- Promotions that actually pay
- Product breadth – virtuals, jackpots, prediction games, casino
- Financial resilience – operating cash flow, retail footprint, VC war chest
- Cultural traction – agent networks, grassroots sponsorships, meme power
The Heavyweights – and Why Each Owns a Piece of The Best
| Operator | What They Nail | Ticking Time-Bombs | Verdict |
| SportyBet | Biggest traffic (≈ 57 M visits / month), sub-5-second cash-outs, crazy-low EPL margin (~4.5%). | Still no retail city hubs; crash loops on older Tecno devices. | Mobile kingpin |
| Bet9ja | Heritage trust, retail agents in 20 states, jackpots like Super9ja; circa ₦10 billion monthly handle. | Dated UX; odds less sharp since 2024 revamp. | Legacy war-horse |
| BetKing | Data-driven odds, Genius Sports in-play feed, renewed deal with Gamble Alert for RG training. | Slower KYC queues at peak traffic. | RG poster-child |
| Surebet247 | NLRC Permit 0001081; cash-first agent model with mobile slip tracking; boosted welcome bonus to ₦150k; full cash-out on domestic basketball. | Android app, iOS app; livestream rights still pending. | Mobile dark horse |
| 1xBet & Betway | Global market buffet, esports, crypto options. | Offshore-licence optics; occasional geoblock glitches. | International muscle |
| NairaBet, AccessBET, Msport, Premier Bet, BetPawa | NairaBet = pioneer cachet; Msport & BetPawa blitz TikTok; Premier Bet just signed Francis Ngannou. | Each misses at least one core pillar (RG tooling, market depth or fast payouts). | Specialist niches |
Two Deep-Cut Insights the Billboards Won’t Show You
- Women are quietly reshaping the market. According to University of Abuja (“according to data from the University of Abuja”), 30 percent of urban Lagos women now gamble regularly, and a 2025 field survey found daily spend often tops ₦50,000 despite lower median income.
- Mobile-money betting dents student wallets. According to Lagos State University, mobile-money deposits explain 26.7 percent of the variance in student financial well-being – a stat that should make every platform’s RG desk sweat.
So, Who Actually Wins?
- Premier-League diehards who live for lightning-fast in-play cash-out: SportyBet wears the crown.
- Corner-shop loyalists who still like to chat with a clerk: Surebet247 Betshop nails the cash-plus-mobile sweet spot.
- Jackpot chasers who want EPL on Saturday, Ugandan Super League on Tuesday, and darts on Thursday: Bet9ja is still the Swiss-Army knife.
Punters who value self-exclusion toggles and deposit caps (you should): BetKing edges ahead.
In reality, “best” is contextual. Odds hawks, live-stream junkies, crypto degenerates and agent-network stalwarts will all point to different logos. What you don’t want is a bookie that melts down at 89′ when Villarreal finally scores.
On that front, the four names above – plus a rapidly innovating Surebet247 mobile bet shop – look built to survive Nigeria’s next data-price hike and the NLRC’s tightening audit screws.
The rest? Keep one eye on their uptime dashboards – and the other on your bankroll.
By Lukman Otunuga, Senior Market Analyst at FXTM.
A flurry of high-risk events may pump global financial markets with fresh volatility this week.
Top-tier data, including US Inflation, the unofficial start of earnings season, and US Congress “Crypto Week,” among other themes, could spell fresh opportunities.
Amidst this, uncertainty over global trade will add to the mix after President Donald Trump threatened 35% tariffs on the EU and Mexico over the weekend.
Regarding US inflation, this may impact bets around Fed cuts in the second half of this year. Markets are forecasting CPI to rise 2.6% from 2.4% in the prior month, with core CPI rising to 2.9% from 2.8%. Signs of rising prices may shave bets around the Fed cutting interest rates – boosting the dollar as a result.
Closer to home, Nigeria’s June CPI data due July 15 is expected to show signs of cooling inflationary pressures. This could offer some relief to the Central Bank of Nigeria (CBN) which aggressively hiked interest rates throughout 2024. Inflation is expected to have eased to 21.4% year-on-year from 23% in May – marking the 4th consecutive month of decline. However, the slowdown is largely a technical adjustment aided by the recent gains in the Naira amid higher non-oil exports and a weaker dollar.
The CBN is scheduled to meet later this month and will most likely keep rates unchanged at 27.5%.
One key challenge for the country will be how to re-tweak its budget for lower oil prices. Indeed, the budget was based around oil production at 2 million barrels and oil prices of $75. Brent is trading around $70 with the nation producing 1.544m b/d of crude in May according to OPEC. Nigeria is hoping to raise production to 1.9m b/d by the end of 2025. But its impact on the economy may be muted if oversupply and tepid demand keep oil prices subdued. Brent is up 4% this month but still down over 6% since the start of 2025.
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