The Rise of Mobile Money in Africa
Mobile money has become the backbone of Africa's digital economy. According to the GSMA's 2026 State of the Industry Report, global mobile money transactions hit $2 trillion in 2025 — and sub-Saharan Africa accounted for roughly 70% of that volume. That is over $1.4 trillion flowing through mobile money networks across the continent.
To put that in perspective: Africa now has 1.2 billion registered mobile money accounts, with 347 million active monthly users. The mobile sector contributed 7.7% to Africa's GDP in 2025 — approximately $220 billion. This is not a trend. This is a revolution.
What Is Driving Growth?
M-Pesa's Dominance
Safaricom's M-Pesa processed 37.1 billion transactions worth $294.8 billion in 2025. That is KSh 38.3 trillion — exceeding Kenya's entire GDP. M-Pesa now handles 2,600 transactions per second and generates Sh161.1 billion in annual revenue for Safaricom. With 40 million monthly active users and 298,900 agents, M-Pesa's 92.3% market share in Kenya makes it one of the most dominant financial platforms anywhere in the world.
Merchant Payments Growth
Merchant payments via mobile money reached $155 billion globally in 2025. In Kenya, businesses now use mobile money for payroll, supplier payments, and customer transactions. However, only 25.7% of registered accounts are active monthly — showing massive room for growth in user engagement.
Financial Inclusion Impact
Kenya's financial inclusion rate soared from 26.7% in 2006 to 84.8% today — driven almost entirely by mobile money. Across sub-Saharan Africa, 58% of adults now have a financial account, up from 49% in 2021 (World Bank Findex 2025).
What This Means for Businesses
For businesses building on the continent, the message is clear: mobile money is no longer optional. Any payment strategy must include mobile money support from day one.
At Gemmy Connect, we are building the infrastructure to make this seamless — one API for mobile money, cards, and bank transfers. Because the future of African commerce will be built on mobile money.
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