According to a recent GSMA report, Sub-Saharan Africa is the enduring epicenter of mobile money, adding over 50 million registered accounts in 2019.
The huge surge is attributed to a government measure instituted to curb COVID-19 spread by encouraging the use of mobile money payments.
The partnership enables Airtel Money’s 19 million customers to receive MoneyGram transfers directly into their mobile wallets from around the world.
Airtel Africa, a telecommunications and mobile money services company, is scaling up its operations with the help of WorldRemit, a digital money transfer service provider, to broaden its instant money transfer services across Africa.
The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.
According to the report, cash on delivery was the leading payment method preferred by online shoppers in Saudi Arabia, Jordan, Egypt, Morocco, Kenya, and other countries in this region, as of 2019.
The National Bank of Rwanda has instructed mobile network operators to waive charges on all transfers with bank wallets, person-to-person and merchant fees on payments.
In response to the economic disruption from COVID-19 pandemic, the Central Bank of Kenya announced a set of directives promoting digital transactions to curb the spread of COVID-19. These directives have significantly impacted the banks and mobile money agencies.