Registered mobile money accounts across the three major telcos have – for the first time, outstripped the country’s total population; a development that portends future growth in the mobile money space.

The latest data from the central bank’s Payment System shows that the registered number of mobile money accounts increased from 21.36 million in June 2017 to 29.99 million in June 2018. This represents an increase of 40.40 per cent over a one-year period.

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