Uganda: MTN Uganda Introduces Overdraft Facility As It Step-Ups Competition in Digital Lending Space

Africa's mobile-money sector remains the most active of any region in the world according to GSM Association (GSMA), an umbrella body representing the interests of players in the telecommunications industry. The report shows that registered mobile money accounts in Africa stood at slightly over half a billion in 2020, a 12-percentage point growth from the previous year. The value of transactions hit $495 billion, up 23-percentage points.

East Africa accounts for the bulk of Africa's mobile money transactions followed by West Africa. The GSMA report shows that the value of transactions in West Africa had the highest growth after increasing by 46 percentage points to $178billion (the second highest value after East Africa's).

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