Global Mobile Money Transactions Surpass $2 Trillion as Africa Drives Rapid Growth

Global mobile money transactions exceeded $2 trillion in 2025, marking a historic milestone for digital finance and underscoring Africa’s central role in driving adoption, according to the latest State of the Industry Report released by the GSMA.

The milestone represents a dramatic acceleration in growth. It took the mobile money industry nearly two decades to reach its first $1 trillion in annual transaction value, but only four years to double that figure. The surge was accompanied by significant growth in user adoption, with registered mobile money accounts rising to 2.3 billion globally in 2025—an increase of 268 million new accounts. Monthly active accounts also climbed 15% to 593 million, marking the strongest growth recorded since 2021.

Africa Remains the Epicentre

Sub-Saharan Africa accounted for the majority of newly registered and active accounts, reinforcing the region’s status as the global hub for mobile money innovation and usage. The rapid expansion has been driven by increasing demand for digital financial services such as savings, credit, and insurance, alongside supportive regulatory frameworks that encourage interoperability and simplified know-your-customer (KYC) processes.

Industry analysts note that the scale of mobile money across the African continent is unprecedented, with leading telecommunications operators positioning fintech services as core strategic business units.

Among the largest contributors, MTN Group reported that its mobile money platform, MTN MoMo, processed more than $500 billion in transactions in 2025 alone—equivalent to roughly one-quarter of global mobile money transaction volume. The platform recorded 69.5 million monthly active users across its operating markets.

Meanwhile, Safaricom disclosed that its flagship platform, M-Pesa, generated 161.1 billion Kenyan shillings ($1.2 billion) in revenue during the fiscal year ending March 2025. The service currently supports 37.1 million users across Kenya and Ethiopia.

Similarly, Vodacom Group reported that its combined VodaCash and M-Pesa platforms processed $450.8 billion in transactions across eight markets in 2025, representing an 18.3% year-on-year increase.

Growth has also been notable within Orange Group, where Orange Money recorded transaction values rising from $50 billion in 2021 to $178 billion in 2024. The platform now facilitates up to $760 million in monthly transfers, while Orange Bank Africa reported 1.7 million customers in 2024.

Challenges Persist Despite Record Growth

Despite the sector’s strong performance, the GSMA report identified several persistent challenges. Nearly 75% of registered mobile money accounts remain inactive on a monthly basis, suggesting ongoing barriers to consistent usage. Fraud risks and transaction taxes in certain countries were highlighted as key factors that continue to push some users back toward cash-based transactions.

A notable gender gap also remains. In seven out of 10 countries surveyed, women who own mobile money accounts are less likely than men to use them regularly, pointing to broader challenges related to digital access and financial literacy.

Regulation continues to shape the sector’s development. More than 60% of mobile money providers reported that interoperability standards, KYC frameworks, and consumer protection rules have improved operational efficiency and supported growth. However, cross-border data transfer regulations remain a significant obstacle, with nearly one-quarter of providers indicating that these policies hinder operations.

Mobile Money Expands Beyond Payments

The GSMA report further highlighted a shift in mobile money’s role from simple payment processing to a broader financial services ecosystem. The number of mobile money providers offering insurance products increased by one-third in 2025, while credit and savings services continued to expand across multiple markets.

Industry stakeholders say the next phase of growth will depend on improved digital financial literacy and the development of responsible usage practices. As mobile money platforms evolve into full-service financial ecosystems, experts believe they will play an increasingly critical role in supporting economic inclusion, strengthening small businesses, and accelerating digital transformation—particularly across emerging markets in Africa.

source: Agencies