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Mobile Money market in the Cemac zone: Cameroon accounts for 64.8% of accounts and 73.1% of transactions

28/10/2021
Categories: Index/Markets

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The Bank of Central African States (Beac) identified 30.1 million payment accounts in electronic money (Mobile Money) in 2020. Cameroon alone holds 19.5 million accounts, i.e. 64 .8% of the global, making this country the market leader.

     

The recent Beac report on "electronic money payment services in CEMAC in 2020", reveals a 21% increase in electronic money payment accounts year-on-year. Cameroon has almost three times more accounts than Congo (7.1 million) and almost 10 times more accounts than Gabon (2.7 million). In terms of number of transactions, payment service providers in Cameroon carry out 73.13% of the community's transactions. Although holding fewer accounts than Congo, which shows only 9.25% of electronic money transactions in 2020, Gabon ranks 2nd behind Cameroon, with 16.7% of transactions.

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