Global mobile money transactions hit $2trn in 2025, fueled by Africa’s rapid growth

Global mobile money transactions surpassed $2 trillion in 2025. This is according to GSMA’s latest State of the Industry Report on Mobile Money. The 2025 tally means the value of transactions has doubled in just four years, with Africa driving the extraordinary growth,

The mobile telecommunications industry body said it took 20 years for mobile money to reach its first trillion dollars in annual transaction value, but only four years to double that figure. Registered accounts reached 2.3 billion globally in 2025, growing by 268 million, while monthly active accounts rose 15% to 593 million, the strongest growth since 2021.

Sub-Saharan Africa accounted for most of the new registered and active accounts, reinforcing the region’s position as the epicentre of mobile money adoption.

The rapid growth is fuelled by a sharp increase in registered and active accounts across Africa and growing demand for digital financial services like savings, credit, and insurance. It is also powered by stronger regulatory support such as interoperability and KYC frameworks, which are helping providers scale more efficiently.

African giants power the surge

The scale of mobile money on the African continent is staggering, with major operators investing heavily in fintech as a core strategic pillar.

In 2025, MTN MoMo alone processed more than half a trillion dollars according to MTN Group’s financial disclosures. This represents roughly a quarter of the global total. The platform also has 69.5 million monthly active users across its markets.

Safaricom’s M-Pesa generated a revenue of 161.1 billion Kenyan shillings ($1.2 billion) in the fiscal year ending March 2025. This was from 37.1 million users in Kenya and Ethiopia, according to the company’s earnings report.

Similar read: 5G users in Africa to reach 382 million by 2030 up from 54 million – GSMA

Vodacom, which includes Safaricom, processed $450.8 billion in transactions across its VodaCash and M-Pesa platforms in eight markets during the same period, an 18.3% increase year-on-year, according to Vodacom’s 2025 annual results.

Orange Money has also seen explosive growth, with transaction values more than doubling from $50 billion in 2021 to $178 billion in 2024, according to Orange Group’s financial statements. The platform now channels up to $760 million in transfers each month, while Orange Bank Africa counted 1.7 million customers in 2024.

Persistent challenges despite growth

Despite the extraordinary growth, GSMA flagged persistent challenges. Nearly 75% of registered accounts remain inactive every month, with fraud and transaction taxes in some countries encouraging users to revert to cash.

A wide gender gap also persists: in seven out of 10 countries surveyed, women who own a mobile money account are less likely than men to have used it within the past month.

Regulation is playing an increasingly important role. More than 60% of mobile money providers said interoperability, know-your-customer, and consumer protection regulations have supported their operations.

However, cross-border data transfer regulations remain a problem, with nearly a quarter of providers reporting that they have hindered operations.

The GSMA report also found that the number of mobile money providers offering insurance increased by a third in 2025, while credit and savings products continue to expand.

The industry body argued that mobile money’s role is extending beyond payments into broader financial services, and that digital financial literacy programmes are needed to support responsible growth.

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