Africa Online Payment Methods Market Report 2024: Eastern Africa Leads in Mobile Money Transactions in Africa [Yahoo! Finance]
GLOBAL DEVS INC (DEL) (GDVM)
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Source: Yahoo! Finance
Online Payment Wallets are Set to Contribute 22% of Africa's Electronic Payment Revenue by 2025 Eastern Africa led in mobile money transactions in Africa In 2022, Eastern Africa demonstrated the highest volume of mobile money transactions among African regions, while Northern Africa exhibited the lowest, highlighting a notable contrast in digital payment adoption across the continent. Specifically, Egypt had less than 10% of adults engaging in digital payments, whereas Kenya saw nearly 80% participation. The mobile money sector in Africa has significantly enhanced consumer accessibility and usability compared to traditional banking. Nevertheless, obstacles like limited awareness and perceived usefulness remain the foremost hindrances to mobile money account ownership in the region. Digital payments in South Africa are expected to grow significantly As online payment methods become increasingly popular among consumers, digital payments and alternative payment solutions are g
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