Togo : Mobile money transactions almost doubled between 2016 and 2017

In 2017, there were 38.13 million mobile money transactions in Togo. This figure which is almost twice that recorded in 2016 corresponded to an amount of XOF394.3 billion in 2017, against XOF263.1 billion the year before.

The data was disclosed in the BCEAO’s latest annual report on digital financial services across the WAEMU.

The rise in the number of transactions translates an increase in the number of mobile money subscribers, from 1.44 million in 2016 to 2.98 million in 2017.

Compared to 2014, the surge is even more substantial since that year the transactions amounted to only XOF5 billion.

In the WAEMU, Côte d’Ivoire has the highest rate of mobile money transactions, capturing 37.9% of all transactions recorded in the union, against a 5.92% share only for Togo.

Ayi Renaud Dossavi / Togofirst