The report “Africa Mobile Money Market by Transaction mode (NFC/Smart Cards, Direct Mobile Billing, Mobile Web/WAP Payments, SMS, STK/USSD, and others), Nature of Payment, Location, Type of Purchase, and by Country - Forecast to 2020”, defines the Africa mobile money market based on various transaction modes, nature of payments, location types, and types of purchases with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
[155 Pages Report] The Africa mobile money market is expected to grow from $2.73 Billion in 2015 to $14.27 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 39.2% during the forecast period from 2015 to 2020.
This report analyzes Africa adoption trends, future growth potential, key drivers, restraints, opportunities, challenges, and best practices in the Africa Mobile Money market. The report also examines growth potential market sizes and revenue forecasts across different countries.
Scope of the report:
The Africa mobile money market is a broad study of the African market and forecasts the market sizes and trends in the following sub-segments.
Market Size, by Transaction Mode:
• NFC/smart cards
• Direct mobile billing
• Short Messaging Services (SMS)
• STK/USSD
• Others (Interactive Voice Response (IVR), Bluetooth, Wi-Fi, JRME, BREW, and other in-store mobile applications)
Market Size, by Nature of Payments:
• Person to person
• Person to business
• Business to person
• Business to business
Market Size, by Location:
• Remote payments
• Proximity payments
Market Size, by Type of Purchase:
• Airtime transfers and top-ups
• Money transfers and payments
• Merchandise and coupons
• Travel and ticketing
• Digital products
Market Size by Country:
• South Africa
• Kenya
• Tanzania
• Zimbabwe
• Uganda
• Angola
• Zambia
• DRC
• Namibia
• Mauritius
• Mozambique
• Malawi
• Madagascar
• Others (Ghana, Rwanda, Botswana, and Lesotho)
The Africa Mobile Money market in has competently established itself as one of the fastest growing markets globally and is expected to exhibit a growth of 39.2% between 2015 and 2020. With mobile phone becoming a consistent communication and content access medium, mobile money services are becoming highly popular among the people. From its onset in the year 2007, mobile money has evolved from providing payment transactions though Short Messaging Services (SMS) and Systems Tool Kit (STK)/Unstructured Supplementary Service Data (USSD) to the more contemporary Near Field Communication (NFC)/smart card transactions. Moreover, the person-to-person nature of payment continues to be the most widely used payment method in mobile money services, while both remote payments and proximity payments remain as broadly used location-based payments. In addition, the widespread acceptance of mobile money services across various countries, the large number of mobile users, and the increased convenience of faster monetary transactions over mobile phones are the primary reasons for the growth of the market.
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With the growing availability of financial solutions on mobile phones, the mobile users have been able to take timely business decisions and in accomplishing faster financial transactions simply through their mobile devices. The mobile money services provided by Mobile Network Operators (MNOs), banks, and payment processing agents prominently include the usage of mobile phones to transfer electronic money, send and receive international remittances, send and receive money from one mobile device to another, deposit and withdraw money, book travel or movie tickets, make bill payments, pay utility bills, make airtime transfers, and recharge top-ups, among various others. These mobile money services can be seamlessly used by both banked and unbanked customers present worldwide. Further, with the mobile device becoming a routine usage in the daily life of the people, mobile money services have prominently transformed the user’s payment and money transfer experiences.
The major vendors of the Africa mobile money market are Vodacom, Orange S.A, Airtel, Econet Wireless, Mcel, Tigo, Safaricom, MTN, and Zantel. The major forces driving this market are the increase in mobile penetration, creation of new revenue stream for the stakeholders, and rise in interoperability.
MarketsandMarkets broadly segments the Africa mobile money market by country into South Africa, Kenya, Tanzania, Zimbabwe, Uganda, Angola, Zambia, DRC, Namibia, Mauritius, Mozambique, Malawi, Madagascar, and Others (Ghana, Rwanda, Botswana, and Lesotho); by transaction mode into NFC/smart card, direct mobile billing, Short Messaging Services (SMS), STK/USSD, and others (Interactive Voice Response (IVR), Bluetooth, Wi-Fi, JRME, BREW, and other in-store mobile applications); by nature of payments into person to person, person to business, business to person, and business to business; by location type into remote payments and proximity payments; by type of purchases into airtime transfers and top-ups, money transfers and payments, merchandise and coupons, travel and ticketing, and digital products.
MarketsandMarkets forecasts the Africa mobile money market to grow from $2.73 Billion in 2015 to $14.27 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 39.2%. In terms of countries, Kenya is expected to be the biggest market in terms of market size, whereas Mozambique, Madagascar, and Malawi are expected to experience increased market traction during the forecast period.

Browse 87 market data tables and 39 figures spread through 155 pages and in-depth TOC on “Africa Mobile Money Market by Transaction mode (NFC/Smart Cards, Direct Mobile Billing, Mobile Web/WAP Payments, SMS, STK/USSD, and others), Nature of Payment, Location, Type of Purchase, and by Country - Forecast to 2020"
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