Promoting financial inclusion

Last year, 342 million financial transactions were conducted through Mobile Money. According to the report by the National Coordination of Inclusive Finance (CNFI), these operations generated 38,161 billion MGA (8 billion USD).

In recent years, the number and value of transactions conducted via mobile phones have shown consistent growth. In 2021, this payment method was used for 211 million operations. By 2022, the number of transactions had increased to 273 million. According to the CNFI, this performance indicates the growing adoption and increasing trust in this technology for daily financial transactions.

Between 2021 and 2023, the number of active Mobile Money accounts also rose by 48 %, from 3.067 million accounts to 4.550 million. The CNFI highlights this increase as evidence of the technology’s growing use among consumers. Mobile Money enables individuals, even those without a bank account, to transfer money using just their phones.

During this period, the number of distribution points also grew by 79 %, from 85,137 to 152,366 points. This includes distribution agents, commonly known as « wholesalers », who are employed by mobile sector players as well as service establishments such as withdrawal points, gas stations, and retailers.