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Mobile Money Records Over 690 M Accounts Worldwide – GSMA

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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.”


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Airtel Introduces Full Shopping Experience Within My Airtel App

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Airtel Nigeria has upgraded its My Airtel App with a fully integrated eShop feature, transforming the platform into a complete digital shopping destination. With this update, customers can now enjoy a full retail experience directly within the existing subscriber app—beyond simply buying airtime or data.

The eShop feature offers a wide selection of products ranging from Airtel-branded items such as Home Broadband (HBB) devices and everyday retail items such as electronics, home appliances, fashion, and beauty products.

Speaking on the new feature, Director of Marketing at Airtel Nigeria, Ismail Adeshina, emphasized the brand’s ongoing focus on innovation and customer-centricity.

“At Airtel, we understand that today’s customers value convenience above all else. This update is part of our broader mission to simplify digital experiences and make everyday transactions easier and faster. By integrating the eShop directly into the My Airtel App, we’re eliminating unnecessary steps and giving users the freedom to do more within a single platform,” he said.

The update enhances the app’s functionality by allowing customers to access the eShop directly from the home screen, eliminating the need for external redirection to web browsers or third-party platforms.

“We’re moving beyond basic connectivity towards building a digital ecosystem that supports the lifestyle needs of our customers. Whether it’s purchasing a device, recharging, or shopping for everyday items, we’re putting more power and choice in the hands of our users,” Adeshina added.

The My Airtel App continues to serve as a key platform for Airtel subscribers, offering self-service options, quick access to bundles, account management tools, and now, a more robust digital shopping channel.


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Nigerians May Pay More for Calls, Data as Senate Okays 5 Percent Excise Duty

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Telecommunications subscribers in the country could soon be paying 5 percent more for data and voice services if President Bola Tinubu signs  Nigeria Tax Bill 2024 into law.

Nigerians May Pay More for Calls, Data as Senate Okays 5 Percent Excise Duty

Passed in the Senate on May 8, 2025, the bill reintroduces a controversial 5 percent excise tax on telecom services, a move telecom operators, subscribers and consumer rights groups have strongly opposed.

The bill revived the excise tax first introduced in the Finance Act of 2020 during the administration of former President Muhammadu Buhari.

President Bola Ahmed Tinubu had suspended the tax in July 2023, citing concerns that it could exacerbate inflation and hinder access to digital services, especially for low-income Nigerians.

The 2020 Finance Act had expanded the list of goods and services subject to excise duty, including telecom services.

However, the measure drew immediate and widespread criticism from telecom operators and consumer advocacy groups, who argued that the additional cost would burden citizens and increase the price of essential services in an already fragile economy.

Excise duty is a tax on certain goods produced or sold within a country and other activities as may be specified in the enabling law, including services.

As contained in the 2022 Finance Act, the tax is chargeable on all services regulated by the Nigerian Communications Commission (“NCC”) listed as postpaid and prepaid services at the rate of 5% for 2022, 2023 & 2024.

According to a report by PWC at the time, prior to the suspension of excise duty on certain goods in 2009, excise duty was applicable on recharge cards/vouchers.

The telecommunication companies are to pay the tax based on the excisable value of postpaid and prepaid services.

In July 2023, President Tinubu signed an Executive Order suspending the “5% Excise Tax on telecommunication services as well as the Excise Duties escalation on locally manufactured products.”

 

 

 

 


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Mastercard Report Reveals Top Travel Trends Shaping Africa in 2025

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Mastercard Economics Institute (MEI) has released its annual Travel Trends 2025 report, revealing the latest consumer spending insights and motivation when it comes to travel.

Cross-border movement is often influenced by the most pressing economic factors of the moment, such as exchange rates and geopolitical tensions. However, these are not the only factors driving consumers’ travel spending decisions, including those in Africa. Personal and purpose-driven factors remain powerful even when economic uncertainty looms.

Building on the resilience of the global travel sector seen last year, the 2025 report highlights how destinations across the African continent are increasingly appealing to tourists and, creating additional opportunities for local markets to develop tourism.

 “Africa is emerging as a global leader in purpose-driven travel, where nature, wellness, and culinary experiences are redefining the continent’s tourism landscape. These trends present a powerful opportunity to drive inclusive growth, support local economies, and position Africa as a key player in the future of global tourism,” said Mark Elliot, division president, Africa, Mastercard.

 Whether drawn by Namibia’s wellness retreats, South Africa’s wilderness experiences or Morocco’s vibrant culinary scene, travelers are expanding their horizons beyond traditional hotspots.

 Tourism is playing an important role in Africa’s growth story. Travelers are increasingly drawn to the continent’s natural beauty, culinary diversity, and wellness experiences. While economic and geopolitical factors matter, the pursuit of meaningful, purpose-driven travel remains strong. The Mastercard Economics Institute’s report sheds light on how countries are tapping into this trend to attract visitors and boost local economies,” said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute.

By exploring a full range of travel motivations, the report identifies the main themes shaping travel today:

 Africa trends:

  • Nature-fueled adventures: South Africa and Zambia dominate cross-border spending around national park areas. Spending around South Africa’s major national parks far outpaced that of other countries, with nearly a quarter of the cross-border spending occurring within these zones. Zambia is also highly ranked as an outdoor adventure destination.
  • Culinary crossroads: Marrakech ranks highly on the foodie list with its median restaurant hosting tourists from many different countries, often to enjoy meals of tagine and b’stilla. Cape Town is also on the list, with its bobotie dish proving popular with visitors.
  • Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. Namibia, South Africa and Botswana are among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. Kenya is also ranked among the top 20 destinations for wellness In the Mastercard Wellness Index 2025.

 Other global trends:

  • Spa, summit and savor: Personal passions and goals motivate travel choices. Adventure-seekers are heading to the Nordics, where Finland’s national parks account for 7.1% of cross-border spending in the country.
  • Summer destination draws: The Asia-Pacific region commands the list of trending summer destinations. Flight booking data reveals the top global destinations gaining most momentum for June-September travel, relative to last year. Tokyo is the number one trending spot for summer 2025, followed by Osaka and then Paris.
  • Fuelled by fans: Fans travel internationally to see their favorite teams and athletes play. Case in point? During Shohei Ohtani’s World Series debut, spending by Japanese visitors in Los Angeles surged by 91%, six times the broader cross-border boost. 
  • Money matters: Despite geopolitical tensions and fluctuating prices, the factors that motivate consumers to travel are often more complex than just economic. But currency depreciation can make certain destinations, like Japan, more attractive due to their better value for money.
  • Wheeling and dealing closer to home: In general, business travelers favor longer trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Asia, Europe, the Middle East and Africa.

Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Africa.

You can view the full “Travel Trends 2025: Purpose-driven journeys” and other reports and insights from the Mastercard Economics Institute can be found here.


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