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Mobile Money Records Huge Growth in Sub-Saharan Africa in 2021

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Mobile money adoption and use saw continued growth in 2021, processing a record US$1-trillion annually. The industry enjoyed a substantial increase in the number of registered accounts, up 18% since 2020 reaching 1.35 billion globally. The volume of person-to-person transactions were up to more than 1.5 million every hour.

This is according to the GSMA’s annual ‘State of the Industry Report on Mobile Money’ released this week

The report reveals that one of the most significant drivers of growth was merchant payments, which almost doubled year on year. It also highlights how mobile money continues to act as a core pillar of financial and economic inclusion, particularly for women.

While the research provides a global view of the mobile money milestone of US$1-trillion in processed transactions, it also breaks down the contribution of the different global regions including Africa.

Growth hugely evident in Sub-Saharan Africa in 2021

The organisation stated that globally, mobile money growth was hugely evident in Sub-Saharan Africa in 2021, the mobile money industry had 316 live services, 1.35bn registered accounts, 346 million active accounts, US$53.9-billion in transaction volume and US$1-trillion in transaction value.

“Regionally, Africa contributed the following to the overall 2021 mobile money figures: 173 live services, 621 million registered accounts, 184 million active accounts, $36.7bn in transaction volume and US$701.4-bn in transaction value.”

The GSMA added:

  • Eastern Africa contributed 59 live services, 296 million registered accounts, 102 million active accounts, US$24-billion in transaction volume and US$403.4-billion in transaction value.
  • Western Africa contributed 69 live services, 237 million registered accounts, 58 million active accounts, US$9.3-billion in transaction volume and US$239.3-billion in transaction value.
  • Central Africa contributed 19 live services, 60 million registered accounts, 19 million active accounts, US$2.9-billion in transaction volume and US$50.1-billon in transaction value.
  • Southern Africa contributed 14 live services, 13 million registered accounts, 4 million active accounts, US$335-million in transaction volume and US$4.9-billion in transaction value.
  • Northern Africa contributed 12 live services, 15 million registered accounts, 1 million active accounts, US$77-million in transaction volume and US$3.7-billion in transaction value.

Providing significant growth in merchant payments

Mobile money diversified its value proposition beyond person-to-person transfers and cash-in/cash-out transactions in 2021. It is now playing an important role in the daily lives of people and businesses, especially in low and middle-income countries (LMICs).

The growth of ecosystem transactions such as merchant payments, international remittances, bill payments and bulk disbursements, together with interoperable transactions, are accounting for a more significant share of the global mobile money transaction mix.

Merchant payments were instrumental in the growth of the mobile money industry in 2021.

The value of merchant payments almost doubled, reaching an average of US$5.5-billion in transactions per month.

Providers are demonstrating that they can attract businesses to their platform with better incentives, such as efficient remote on-boarding processes. For example, since Safaricom’s M-Pesa began allowing companies to register for an account online in Kenya, more than 18% of new merchants are self-on-boarding.

“2021 was the year mobile money started to really diversify to B2B services. Beyond traditional person-to-person transactions, such as transferring money to family or friends, the industry is now central in helping small businesses operate more efficiently, and serve their customers better” said Max Cuvellier, Head of Mobile for Development, GSMA.

According to the GSMA during the last decade, the mobile money industry has transformed from being a money transfer service to financially empowering people.

Research shows that since 2012, the number of mobile money deployments has almost doubled, increasing from 169 in 71 countries, to 316 in 98 countries.

The GSMA stated: “Despite the ongoing pandemic, the industry achieved double-digit growth across all key indicators, signalling sustained momentum and growth in the industry. In 2021, the mobile money industry processed a record US$1-trillion … (and) a substantial increase in the number of registered accounts, up 18% since 2020 reaching 1.35 billion globally.”

Increasing financial inclusion for women

Mobile money has also been a driving force for financial inclusion for the world’s most vulnerable, particularly women. Mobile money is empowering women to take more control over their finances and purchase goods that they urgently need.

Additionally, 44% of providers responding to the GSMA Global Adoption Survey now offer credit, savings or insurance products, creating opportunities for underserved individuals to invest in their livelihoods and futures.

With the gender gap in mobile money account ownership raging from 7% in Kenya to 71% in Pakistan – there remain some barriers to vulnerable people benefitting from mobile money.

The GSMA has found that owning a mobile phone is an obvious pre-requisite to using mobile money, and women across LMIC’s are 7% less likely than men to own a mobile phone. Overall, 143 million fewer women own a mobile than men. Additional barriers to mobile money access include a lack of awareness of mobile money and a deficit in perceived relevance, knowledge and skills.

While some progress has been made, the report makes clear that more must be done to address the mobile money gender gap across LMICs.

Concerted action is required from policymakers, the private sector, donors and other stakeholders to learn from success stories, address the issue and ensure that existing gender inequalities are not further entrenched, especially in light of the COVID-19 pandemic.

Access to humanitarian aid

As highlighted in the report, in 2022, the number of people needing humanitarian assistance is predicted to soar to 274 million. Mobile money is expected to play an increasingly important role in both donations – where it makes delivery systems more efficient and transparent for humanitarian actors and donors – and the receipt of aid.

The UN Refugee Agency sent US$700-million in cash and value assistance (CVA) to 8.5 million recipients in 100 countries in 2020. They have set up digital payment programmes in 47 countries,15 of which use mobile money. In many humanitarian settings, the digitisation of CVA via mobile money has the potential to promote agency and dignity, and foster financial inclusion.

 


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NCC Orders Telcos to Give Users Free Airtime for Poor Network Service

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Nigerian Communications Commission (NCC), yesterday ordered telecom operators to begin compensation of subscribers for poor network quality with airtime credits.

NCC Orders Telcos to Give Users Free Airtime for Poor Network Service

According to  Dr Aminu Maida, executive vice chairman, NCC,  the measure is part of renewed efforts to improve service delivery, protect consumers, and hold operators accountable for persistent lapses in network performance across the country.

Maida, also outlined his commission’s latest compliance and enforcement strategies.

He said the compensation directive followed verified failures by operators to meet established minimum quality of service standards in several locations.

“It is not a refund from the regulator but a compliance obligation placed on service providers,” he said, stressing operators must bear full responsibility.

He explained that the framework relies on detailed monitoring at local government level, enabling the commission to pinpoint exact areas and periods of poor service.

This granular approach, he said, allows regulators to move beyond general complaints and focus on measurable, location-specific service deficiencies affecting subscribers.

According to him, the compensation specifically covers service failures recorded between November 2025 and January 2026 across multiple network providers.

“Eligible subscribers will receive airtime credits with notifications explaining the cause and value of the compensation,” he said.

He added that notifications would improve transparency and help users understand why compensation was applied to their accounts.

Maida noted the commission has significantly strengthened its monitoring systems to capture real-time, location-specific service performance data.

“These systems ensure enforcement reflects actual user experience rather than generalised industry averages,” he said, highlighting improved regulatory precision.

He added that operators are required to implement the compensation directly, while the NCC provides oversight to ensure compliance.

“Independent checks will confirm that affected subscribers are properly credited,” he said, noting sanctions for non-compliance may follow.

Maida said the initiative formed part of broader reforms aimed at improving accountability and service standards within the telecommunications sector.

“Operators failing to meet obligations will face stricter enforcement measures,” he warned, signalling tougher regulatory action ahead.

He stressed that improving service quality required both sustained infrastructure investment and stronger operational discipline by network providers.

“Service providers must maintain performance standards consistently across all regions, including underserved and rural areas,” he said.

Maida reiterated the NCC’s commitment to balancing consumer protection with industry sustainability and long-term sector growth.

“Operators must take responsibility for the quality of experience delivered to subscribers,” he said, urging greater corporate accountability.

He added that the commission remained committed to ensuring Nigerians received value for money spent on telecom services nationwide.

“Persistent poor service quality is no longer acceptable under current regulatory direction,” he said, emphasising zero tolerance for continued lapses.


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NCC Tasks Nigeria IPv6 Council to Drive Adoption Beyond 5% in 3 Years

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Dr. Aminu Maida, executive vice chairman, Nigerian Communications Commission – NCC has urged the newly inaugurated Nigeria IPv6 Council to develop a credible pathway to raise Nigeria’s IPv6 adoption from approximately 5% today to a level that places us among Africa’s leading nations within the next three years.

He stated this at the inauguration of Nigeria IPv6 Council in Lagos yesterday. Quoting APNIC’s 2026 global measurements, “Nigeria’s IPv6 adoption stands at approximately 5% while leading economies have surpassed 40%. Global IPv4 reserves are exhausted, while the rapid expansion of 5G networks, the Internet of Things, cloud services, and AI-driven applications has pushed the limits of legacy internet addressing.

“At the same time, the cyber-threat landscape continues to intensify. In this context, IPv6 is a strategic necessity for national competitiveness, security, and economic sovereignty.”

Dr. Maida urged the Council to drive collaboration between stakeholders to ensure alignment with the National IPv6 Deployment Strategy.

“To our operators, government colleagues, and enterprise partners, the time for the adoption of, and prioritisation of IPv6 deployment across your networks and platforms is now. Invest in training your technical teams,and ensure that your infrastructure and procurement pipelines are IPv6-ready by default. The investments you make today will determine Nigeria’s digital competitiveness tomorrow.”

The commission mandated the Council to establish a monitoring and reporting framework; Including providing quarterly progress updates to the Commission and an annual State of IPv6 Deployment report to the nation.

More so, drive capacity building and certification by partnering with AFRINIC, academic institutions, and professional bodies to train a critical mass of IPv6-certified engineers across Nigeria.

Champion public sector leadership by working with MDAs to migrate government networks, websites, and e-services to dual-stack or IPv6-native configurations, so that the public sector leads by example.

Engage industry players and the private sector, working with operators, ISPs, data centres, content providers, and financial institutions to remove deployment barriers and unlock private investment in IPv6 infrastructure.

They were also urged to advise on policy and regulation, recommending to the Commission the incentives, standards, and procurement guidelines required to accelerate nationwide adoption.

Mr. Muhammed Rudman, chairman of the Nigeria IPv6 Council in his presentation said that With IPv4 addresses exhausted worldwide, continued reliance on legacy resource creates scalability bottlenecks.

“Our growing digital economy is projected to reach $18.3 billion in revenue by 2026—requires modern addressing capabilities. Without urgent IPv6 transition, Nigeria risks being left behind as emerging technologies like 5G, IoT, and cloud services demand the expanded address space only IPv6 can provide

“IPv6 is essential for Nigeria’s digital transformation, providing the foundation for unlimited connectivity, enhanced security, and next-generation technologies that will drive economic growth and innovation.

“IPv6 provides 340 undecillion IP addresses, ensuring every device in Nigeria can connect directly to the internet without costly workarounds or address sharing.

“Built-in IPsec encryption improves network security. Enables IoT, cloud computing, AI, and smart city initiatives critical to Nigeria’s digital economy, he added.

As a catalyst for National Development, he said IPv6 enables expansion of digital services, e-commerce platforms, and fintech solutions, driving economic diversification and job creation across Nigeria.

“Expanded internet access reaches underserved communities while seamless device integration connects millions of Nigerians to the digital economy.

IPv6 provides the foundation for IoT deployments, smart city initiatives, and AI-powered services that will transform Nigeria’s technological landscape,” he stated.

 


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DG NITDA Calls for Urgent Action on AI-Driven Cyber Threats, Announces More Stakeholder Engagements

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Kashifu Inuwa CCIE, Director General of the National Information Technology Development Agency (NITDA), has raised concerns over the rapidly evolving cybersecurity risks driven by artificial intelligence, urging immediate and coordinated national action.

DG NITDA Calls for Urgent Action on AI-Driven Cyber Threats, Announces More Stakeholder Engagements

Kashifu Inuwa CCIE, Director General of the National Information Technology Development Agency (NITDA).

Speaking ahead of the formal inauguration of a proposed cybersecurity advisory council, Inuwa disclosed that the Ministry of Communications, Innovation and Digital Economy plans to convene at least two additional stakeholder engagement sessions.

According to him, the move underscores a deliberate commitment to inclusivity and transparency, mirroring the collaborative framework adopted in developing Nigeria’s National AI Strategy.

He explained that the increasing integration of artificial intelligence into everyday systems has significantly altered the cybersecurity landscape, introducing more complex and unpredictable threats.

“AI is changing the game and elevating the threat landscape. The more we integrate AI into our lives, the more we need to change the way we look at cybersecurity. There are two fundamental issues we need to think about,” he said.

The NITDA boss highlighted the dual nature of emerging threats, noting that cyberattacks are now being carried out both on AI systems and through AI technologies, thereby expanding the scope and scale of vulnerabilities.

He further warned about the rise of advanced AI-driven social engineering tactics, particularly the growing use of deepfake technology.

“We are also witnessing increasingly sophisticated AI-driven social engineering. The emergence of deepfakes makes it difficult to distinguish between AI-generated audio or video and authentic content.

“There have even been instances where such technology is used during virtual calls,” he noted.

“This is the reality of the world we live in today, and it is not a challenge any single entity can address in isolation. The only way forward is to strengthen collaboration and deepen synergy between governments and the private sector,” he added.

Inuwa stressed that cybersecurity resilience depends heavily on collective responsibility, cautioning that weaknesses within any single organisation could expose entire networks to risk.

“We are only as strong as our weakest link. If one entity is compromised, it creates risks for others within the network,” he stated, referencing recent incidents in which financial institutions were exploited to gain access to broader payment systems and even government infrastructure.

Commending the Minister for initiating the cybersecurity advisory council, the NITDA DG described it as a crucial platform for enhancing cooperation, facilitating information sharing, and building a more resilient national digital ecosystem.

He reaffirmed the agency’s commitment to supporting the council and collaborating with stakeholders across sectors to strengthen Nigeria’s cybersecurity framework in the face of evolving AI-driven threats.


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