Published date : 20 July 2023

Mobile Money Account Growth in Africa, 2014 vs 2021

According to the World Bank, over the past decade from 2011-2020, 1.2 billion previously unbanked adults gained access to financial services for the first time, and the global unbanked population fell by 35%; this was primarily boosted by the increase in mobile money accounts. While more than 1.7 billion adults, equivalent to 22% of the world population, remain unbanked globally, fintech is helping make financial services more accessible to an increasing number of people.

Related: IFC on Fostering Financial Inclusion via Fintech Investments in Africa

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