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GSMA Reveals Sub-Saharan Africa as Mobile Money Epicentre

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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.”


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NITDA Empowers 50 Enugu Youths with Digital Tools, Hails Mbah’s Support

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In a significant step toward deepening digital inclusion in Enugu State, the National Information Technology Development Agency (NITDA) has empowered 50 young innovators with digital tools, while commending Governor Peter Mbah for his pivotal support of the Agency’s South-East Zonal Office.

NITDA Empowers 50 Enugu Youths with Digital Tools, Hails Mbah's Support

NITDA

Delivering the goodwill message at the event, NITDA Director General Kashifu Inuwa, represented by Dr. Aristotle Onumo, Director of Stakeholders Management and Partnerships, described the Governor’s commitment as instrumental to the successful launch and rapid performance of the Zonal Office, now recognised as one of NITDA’s top-performing offices nationwide.

“Inuwa noted that Enugu, historically known as Nigeria’s coal city, is undergoing a transition from natural-resource reliance to a knowledge-driven economy. ‘Enugu was once an energy capital powering industries from beneath the earth. Today, the energy driving Enugu is the creativity, talent, and determination of its young people,’” the DG’s message read.

Highlighting the role of digital technology in global economic growth, Inuwa cited projections that the digital economy could contribute up to $23 trillion to global GDP in the coming years, stressing that investment in digital skills today will shape national prosperity tomorrow.

As part of the initiative, over 900 youths registered on NITDA’s digital training platform, with 50 outstanding participants receiving digital tools to enhance their skills and foster innovation. Additionally, 250 participants were recognised for their dedication and excellence throughout the training.

“Nigeria must not only consume technology but create it. Innovation must become our currency, and digital skills must become the bridge to opportunity,” Inuwa emphasised, noting NITDA’s goal of achieving 70 percent digital literacy among Nigerians by 2027.

The initiative aligns with the Agency’s broader strategy to shift the nation from a resource-based economy to a knowledge-based economy driven by innovation, entrepreneurship, and technology.

Governor Peter Mbah, in his remarks, described the festival as more than a technology conference, calling it “a reinforcement of intent” and a validation of the state’s ambition to become a credible node in Nigeria’s growing innovation ecosystem.

Drawing a comparison between Enugu’s historic coal industry and its emerging digital future, he observed that while coal once powered industries across Europe and West Africa, the economic benefits largely left the state.

Today, he argued, Enugu’s greatest resource is its people—their creativity, skills, and innovative potential.

By investing in technology, education, and digital infrastructure, Mbah envisions a future where the state harnesses local talent to generate value, turning ideas into globally competitive solutions and establishing Enugu as a hub of knowledge and digital innovation.

Referencing global technology giants such as Apple, Microsoft, Amazon, Meta, and Tesla, he stressed that control over digital infrastructure is the key to economic leverage in the 21st century.

“Find what is broken, understand it deeply, and fix it properly,” he advised, underscoring that innovation is not about glamour but solving real problems.

He highlighted Enugu’s progress in embedding artificial intelligence in security operations, digitising core government functions, and introducing Geographic Information Systems in land administration to enhance efficiency and strengthen land rights.

Earlier, Dr. Prince Lawrence Ezeh, Enugu State Commissioner for Innovation, Science, and Technology, delivered the welcoming address, highlighting the progress made since the inaugural edition of the festival.

He noted that thousands of youths have been trained through digital skills initiatives, strategic partnerships have been launched—including Nigeria’s largest tech hub initiative—and technology clusters in blockchain and gaming have expanded, positioning Enugu as an emerging national tech leader.

Dr. Ezeh outlined the core objectives of ETF 2026: transforming businesses through innovative strategies aligned with the digital economy, and strengthening communities by fostering collaboration and resilience.

He also revealed ongoing reforms to embed technology across governance and public services, including advanced real-time security systems, smart green schools, and modernised public service platforms.

Other dignitaries in attendance included Anna Vesterholm, Ambassador of Sweden to Nigeria; Aminu Maida, Executive Vice Chairman of the Nigerian Communications Commission; alongside captains of industry and leading technology experts.


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Sophos Report: Identity Attacks Drive 67% of Cyber Incidents as Threat Groups Surge in 2025

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Sophos, a global leader of innovative security solutions for defeating cyberattacks, today released the 2026 Sophos Active Adversary Report.

Sophos Report: Identity Attacks Drive 67% of Cyber Incidents as Threat Groups Surge in 2025

John Shier

It reveals that 67% of all incidents investigated by Sophos Incident Response (IR) and Managed Detection and Response (MDR) teams last year were rooted in identity-related attacks.

The findings highlight how attackers continue to exploit compromised credentials, weak or missing multifactor authentication (MFA), and poorly protected identity systems, often without needing to deploy new tools or techniques.

Key findings include:

  • A shift from exploited vulnerabilities toward compromised credentials, with brute-force activity (15.6%) drawing almost level with exploitation (16%) as an initial access method
  • Median dwell time declined to three days. This was driven by attackers’ movements, but also by defenders reacting more swiftly. This was particularly notable in MDR environments.
  • Attackers are getting faster at reaching Active Directory (AD). Once an attacker is inside an organization it takes them just 3.4 hours to get to the AD server.

·       Ransomware  remains a firmly off-hours activity. 88% of ransomware payloads are deployed out of hours, and 79% of data exfiltration actions take place out of hours, emphasising the continued need for 24/7 coverage.

  • Lack of telemetry undermines defense efforts. Missing logs due to data retention issues doubled over last year. This rise was largely driven by firewall appliances where the default was only seven days, and in some cases, 24 hours.

Identity Attacks Accelerate While MFA Gaps Persist

The report shows a continued rise in attacks rooted in identity compromise, including stolen credentials, brute-force activity, and phishing. 

While exploited vulnerabilities remain a factor, attackers increasingly rely on valid accounts to gain initial access, allowing them to bypass traditional perimeter defenses. 

There was also a lack of MFA in 59% of cases, facilitating the abuse of stolen and compromised credentials to penetrate an organization.

“The most concerning finding in the report has actually been years in the making: The dominance of identity-related root causes for successful initial access.

“Compromised credentials, brute-force attacks, phishing, and other tactics leverage weaknesses that can’t be addressed by simple patch hygiene. Organizations must take a proactive approach to identity security,” said John Shier, Field CISO and lead author of the report.

More Threat Groups, Broader Risk

Sophos researchers observed the highest number of active threat groups recorded in the report’s history, expanding the overall threat landscape and increasing the challenge of attribution.

  • Akira (GOLD SAHARA) and Qilin (GOLD FEATHER) were the most active ransomware brands observed, with Akira dominating across 22% of incidents
  • 51 ransomware brands appeared across cases, including 27 returning brands and 24 new ones
  • Only four brands or techniques, LockBit, MedusaLocker, Phobos, and abuse of BitLocker, have persisted continuously since 2020, the first year of Active Adversary Report data

“Law enforcement action continues to cause disruption in the ransomware ecosystem. Although we still see activity from LockBit, the dominance and reputation it once had has clearly been impacted.

“However, it means we are seeing a raft of other groups vying for dominance and many more emerging groups. For defenders, it’s important to understand the groups and their TTPs in order to best protect your organization,” continued Shier.

AI Hype Meets Reality

Despite widespread predictions, Sophos found no evidence of a major AI-driven transformation in attacker behavior. While generative AI has increased the speed and polish of phishing and social engineering, it has not yet produced fundamentally new attack techniques.

“AI is adding scale and noise but not yet replacing attackers. While in the future GenAI could be the next accelerator, right now the fundamentals still matter: strong identity protection, reliable telemetry, and the ability to respond quickly when something goes wrong,” said Shier.

Defensive Takeaways

Based on the findings of the 2026 Active Adversary Report, Sophos recommends organizations:

  • Deploy phishing-resistant MFA and validate its configuration
  • Reduce exposure of identity infrastructure and internet-facing services
  • Patch known vulnerabilities promptly, especially on edge devices
  • Ensure 24/7 monitoring through MDR or equivalent capabilities
  • Preserve and retain security logs to support rapid detection and investigation

 The 2026 Sophos Active Adversary Report analyzed 661 IR and MDR cases handled between November 1, 2024 and October 31, 2025, spanning organizations across 70 countries and 34 industries.

You can read the full report here[SE1] . https://www.sophos.com/en-us/blog/2026-sophos-active-adversary-report 


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NDPC Urges Education Ministry to Prioritise Data Protection Compliance

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Nigeria Data Protection Commission (NDPC) has urged the Federal Ministry of Education to ensure strict compliance with data privacy regulations across Nigeria’s education sector to protect personal information and bolster the nation’s digital infrastructure.

NDPC Urges Education Ministry to Prioritise Data Protection Compliance

NDPC

National Commissioner and Chief Executive Officer of NDPC, Dr. Vincent Olatunji, issued the call during a working visit to the Minister of Education, Dr. Tunji Alausa, and the Minister of State, Dr. Suwaiba Said Ahmad.

Dr. Olatunji highlighted a significant compliance gap in how educational institutions manage sensitive data, noting that while data underpins President Bola Tinubu’s Renewed Hope Agenda, adherence to protection laws remains low in the sector.

“The significance of data protection cannot be overemphasized as Nigeria transitions to a digital economy,” Dr. Olatunji stated, calling on the Ministry to lead efforts in regulatory compliance.

He outlined NDPC initiatives to raise awareness, including the Digital Privacy Awareness Campaign, Data Privacy Clubs in universities, the Secondary School Data Challenge, and the Adopt-A-School programme, which reached about 8,000 students during National Privacy Week.

The NDPC boss urged the Minister to leverage his office for sector-wide enforcement.

Dr. Olatunji offered free induction training for Ministry staff, Virtual Privacy Academy (VPA) vouchers, and spots in a free certification programme. A joint working group was established to drive implementation.

In response, Dr. Alausa acknowledged that data protection has often been approached with levity but affirmed alignment with the government’s goal of producing 50 million digitally literate citizens.

“It is high time all Ministries, Departments, and Agencies prioritise data protection,” Dr. Alausa said, pledging commitment to elevate schools and educational bodies to global standards.


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