Africazine:
Mobile money is reshaping financial transactions in Central Africa, with airtime purchases leading the way.
Airtime purchases accounted for 65 percent of all mobile money merchant payments in Central Africa in 2024. Total payments via mobile money reached CFA3,072 billion (US billion), marking a 3.7 percent increase from the previous year.
Mobile Money Growth in Central Africa
The Bank of Central African States (BEAC) reported that mobile money transaction volumes rose to nearly 1.5 billion operations in 2024. This reflects steady growth in the use of mobile payments across the six countries of the CEMAC bloc: Cameroon, Gabon, Republic of the Congo, Chad, Equatorial Guinea, and Central African Republic.
Despite the diversification of payment uses, airtime purchases remained the most common transaction type, with 974 million operations recorded. In value terms, airtime represented just over 18 percent of total merchant payments, indicating that while frequent, these transactions are typically of low value.
Factors Driving Mobile Payment Adoption
BEAC attributes the growth in mobile payments to several structural factors, including promotional campaigns by telecom operators and the expansion of the merchant acceptance network. More small businesses, educational institutions, and public entities are integrating mobile payment options, making mobile money more accessible.
The report also highlights a gradual decline in the use of airtime as an informal payment method, as users increasingly prefer secure and traceable digital transactions. This shift reflects broader adoption of mobile money for daily consumption, including retail purchases and school fees.
Future of Mobile Payments in Central Africa
- Continued growth in transaction volumes is expected.
- Providers and regulators will need to focus on security and interoperability.
- Expansion of the mobile payment ecosystem is anticipated.
Mobile money is becoming an essential financial tool for everyday transactions in Central Africa.
