Kenya, Uganda and Zimbabwe remain undisputed leaders of mobile banking in Africa (EFG Hermes)
Kenya is the undisputed leader of mobile banking in Africa, according to a research published early June 2019 by Egyptian investment bank EFG Hermes.
Named "The Mobile: Deepening Financial Inclusion But at a High Cost," this study reveals that in Kenya, 72% of banking clients use their mobile phones to access services such as savings and credit. This is about thrice the world average (25%).
With 47% of banked people using Mobile Banking, Uganda is the second in the continent ahead of Zimbabwe (45%), Tanzania (37%), Ghana (36%), Rwanda (29%), Zambia (26%), Botswana (25%), South Africa (20%) and Nigeria (8%).
The average mobile banking use by the banked population in Subsahara Africa is 21%.
The study also reveals that Ghana is the African first in terms of mobile money penetration rate with 152%, ahead of Rwanda (142%) and Kenya (105%).
Let’s note that a penetration rate above 100% means that part of the population has access to these services with more than one telephone line.
Source: Ecofin Agency