Telecom
Mobile Money Records Over 690 M Accounts Worldwide – GSMA
The GSMA yesterday unveiled its seventh annual ‘State of the Industry Report on Mobile Money’, offering a current snapshot of the mobile money landscape and highlighting the impact that greater financial inclusion has on lives, economies and innovation. The report provides the only comprehensive picture of mobile money around the globe.
Today, with more than 690 million registered accounts in over 90 countries, mobile money has evolved into the leading payment platform for the digital economy in many emerging markets. The report shows that, in 2017, the mobile money industry processed transactions worth a billion dollars a day, generating direct revenues of over $2.4 billion.
“As the Sustainable Development Goals (SDGs) enter their third year, mobile technology is proving to be an essential tool for delivering these global goals with increased connectivity and innovative services enabling more inclusive communities.
“Mobile money remains a central part of this story, contributing to 13 of the 17 SDGs, enabling access to essential services like health and education, empowering women with employment opportunities and reducing poverty by offering life-enhancing financial services, often for the first time,” said Mats Granryd, Director General, GSMA.
New Trends
The report shows a number of new trends in mobile money in 2017, including the accelerated growth of bank-to-wallet interoperability, the growing adoption of smartphones, the proliferation of fintech companies, the digitisation of new sectors of the economy, and renewed efforts by companies and governments to reach the most vulnerable and underserved.
Sub-Saharan Africa has long been the epicentre of mobile money and growth in this region shows no sign of slowing, but as the industry has matured, mobile money has also gained traction in other parts of the world. In 2017, for the first time, growth of the industry was led by regions other than Africa.
With 47 per cent year-on-year growth, South Asia was the fastest-growing region in terms of registered accounts and now represents 34 per cent of registered accounts globally.
Mobile Money Reaching Scale
A steady increase in active customers, transactions and direct revenue are signs that mobile money is evolving into a sustainable industry and represents an important driver of economic growth in developing markets, particularly through formalising payments, increasing transparency and boosting GDP.
With mobile money now available in over 90 countries, including three-quarters of low- and lower-middle-income countries, it has become the leading payment platform for a digital economy in many emerging markets.
The research further shows:
Strong growth in customer registrations in 2017 led to the addition of over 136 million new registered accounts, bringing the global total to 690 million mobile money accounts, a 25 per cent increase from 2016;
A growing number of mobile money services are seeing the proportion of their customer base regularly using their service increase to over 50 per cent, especially where providers have a strong distribution network, enabling regulation and rely more on an account-based business model;
More funds are entering and leaving the mobile money ecosystem in digital form; bulk disbursements, bill payments and bank-to-wallet transactions have been the main drivers. In 2017, nearly 25 per cent of incoming funds were digital, compared to nearly 12 per cent in 2012; and
Many successful providers are decreasing the net cost of the agent network – the cost of managing an agent network can account for more than half of total revenues, so this trend can significantly affect investment incentives.
Future Considerations
As a burgeoning fintech community positions itself as the gateway of choice for new digital services, a number of traditional tools will remain relevant.
The persistence of the cash economy in emerging markets means that complex distribution networks will continue to be crucial for digital services to interface with physical lives.
In a business that relies deeply on trust, the role of longstanding brands and the understanding of local context will also remain integral to reaching people outside of the formal system.
The policy and regulatory environment will play a determinant role in establishing incentives and setting national ambitions. As regulators confront questions around data protection, business models, and more, the policy end game of greater inclusion must remain at the fore. Providers able to effectively inform and support this process will be more likely to thrive.
Granryd added, “In an increasingly turbulent world, mobile money is also providing a lifeline, with digital humanitarian cash transfers and affordable international remittances giving refugees safe and convenient ways to meet pressing needs. We are also continuing to focus on narrowing the gender gap in access to financial services through programmes such as the Connected Women Commitment initiative.”
Nigeria has exactly 156,662 active fixed wired internet subscriptions as of mid-2026.
This is a tiny fraction compared to mobile GSM networks, which dominate the market with over 154 million subscribers.
The fixed wired market primarily consists of homes and offices using direct physical cables like fiber optics.
Fixed wired services use physical cables, like glass fiber or copper wire, to bring internet directly into a building.
It is like a dedicated, private water pipe for your home. It provides very fast speeds, unlimited data, and is reliable.
In contrast, mobile GSM uses radio waves transmitted from tall towers to phones, acting more like a sprinkler that sprays a signal across an entire neighborhood.
Because laying physical cables across cities is expensive and hard to do, these subscriptions are very rare.
However, the market has seen recent growth, driven largely by Fiber-to-the-Home (FTTH) services.
The top players are: MTN FibreX with 110,564 subscribers, which is roughly 88.7 per cent of the entire market.
SWIFTNG accounts for about 13,945 connections.
The others are ipNX and 21st Century Technologies which make up the number.
Nigerian Communications Commission (NCC) has said that it was strengthening collaboration with state governments and industry players to develop a transparent, cost-based pricing framework for sharing telecom ducts as part of efforts to speed up broadband expansion across Nigeria.
Ayuba Shuaibu, director of Policy, Competition and Economic Analysis, NCC, disclosed this at the Stakeholders’ Forum in Abuja.
Shuaibu said the initiative was designed to build consensus among all parties.
“The primary purpose of this forum is to ensure seamless synergy between the Commission and all stakeholders,” he said.
The director said the consultation was prompted by longstanding complaints over permits, levies and other charges imposed by different levels of government.
He said bringing together state commissioners, telecom operators, tower companies and representatives of the Nigeria Governors’ Forum had helped improve understanding of the issues.
“This engagement is a work in progress. We expect more input from stakeholders before presenting the outcome to the Nigeria Governors’ Forum,” he added.
Dr Helen Adeneye, commissioner for Innovation, Science and Technology, Kogi State. welcomed the consultation, saying Nigeria needs a harmonised policy that clearly defines the responsibilities of both the federal and state governments.
“We need a harmonised policy that allows states to collaborate better with telecom operators and creates a more business-friendly environment,” she said.
Dr Adeneye added that adopting the Dig-Once policy would establish a uniform pricing system and help resolve disputes over charges for telecom infrastructure deployment.
Chidi Ajuzie, chief executive officer, WTES Projects Limited, whose firm is conducting the consultancy study, said the proposed framework would introduce a common cost structure for duct sharing to support broadband investment and economic growth.
“The study is designed to create a uniform pricing model that will drive broadband growth, economic development and wider adoption across the country,” he said.
Ajuzie explained that the consultants had developed preliminary floor and ceiling prices to guide operators while allowing flexibility within the approved range.
He added that the recommendations remain open to industry input before the NCC finalises the framework.
The Dig-Once Policy is designed to reduce the cost and disruption of deploying broadband infrastructure by requiring fibre ducts to be installed whenever roads are constructed or rehabilitated.
The NCC is developing a cost-based pricing framework for sharing these ducts to promote fair pricing, reduce duplication of infrastructure and encourage investment.
The proposed model is expected to support the Federal Government’s broadband expansion targets while improving collaboration between telecom operators and state governments.
Telecom
MUSON Graduates Shine at 2026 Concert as MTN Foundation Celebrates 20 Years of Music Scholarships
Emeka Nwodike, acting director of the MUSON School of Music, conducted the institution’s graduating class in a grand finale performance, bringing the 2026 graduation concert to a memorable close. The concert took place on July 7 at the Shell Hall of the MUSON Centre, Onikan, Lagos.
The event celebrated students who successfully completed the MUSON Diploma Programme through the MTN Foundation Scholarship Programme.
The graduating students delivered a rich choral repertoire that reflected the breadth of their musical training, performing Italian Salad by Richard Genee, My Song by Eriks Esenvalds, Obi Dimkpa by Laz Ekwueme, and an ABBA Medley arranged by Goran Bejstam. Under the Acting Director’s baton, the choir demonstrated technical precision, vocal maturity and artistic expression before an audience of family members, music enthusiasts and industry stakeholders.
The concert formed part of the long-running partnership between the MTN Foundation and the Musical Society of Nigeria (MUSON), which has, since 2006, provided scholarships for hundreds of talented young Nigerians to receive formal music education through the MUSON Diploma School. The programme continues to serve as one of the country’s foremost platforms for developing professional musicians and strengthening Nigeria’s creative economy.
Speaking at the close of the concert, Nwodike expressed appreciation to the MTN Foundation for its sustained support of the scholarship programme over the past two decades. He also thanked the Director of the MUSON Centre, faculty members, mentors and other stakeholders whose dedication has contributed to the school’s continued success.
“For nearly 20 years, the MTN Foundation has remained a steadfast partner in our mission to nurture young musical talent. We are deeply grateful for that commitment. I also want to thank the Director of the MUSON Centre, our faculty, mentors and everyone whose dedication has helped the MUSON School of Music continue to grow and thrive. Their support has made this programme what it is today, and our graduates are a testament to that collective effort,” he said.
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