The journey of mobile adoption in Sub-Saharan Africa
“Lions on the move”. This was the title of one of McKinsey’s report at the very beginning of the decade about African Economies. And in the case of Sub-Saharan mobile economy the lions have moved a long way these years.
The journey so far has been tremendous and Sub-Saharan have met an incredible growth in every aspect. People in the region have massively adopted the mobile phone and everything it has brought with it. Things that we have talked about many times before from our blog. Of course there is still great potential, as in many aspects Sub-Saharan mobile market is still below global average.
At the following infographic we have highlighted some key elements of this mobile evolution during the past five years, indicating the progress. It will be easy for anyone to understand that while the growth of the market is significant we can expect a lot more in the future, as low smartphone penetration in the region still allows for big growth potential. Αs a consequence we expect handset loans and cash lending via data sources to also rise.
But what we should have in mind is that the journey continues…
- Mobile money continues to play a vital role in financial inclusion
- Mobile gender gap still persists and we should address it
- The intriguing fintech market of Sub-Saharan Africa
- Channel VAS will share its knowledge at 4YFN in Barcelona
- Fintech dominates investors’ choices as startup funding in Africa hits record levels
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