Africa now accounts for 70% of the world’s $1 trillion mobile money value. The value of Africa’s mobile money transactions edged up 39% to $701.4 billion in 2021 from $495 billion in 2020.
The Bank of Uganda is seeking to drum up further usage of electronic and digital payments instead of cheque payments for both local currency and foreign currency transactions.
Many African telecom operations are considering separating out their successful mobile money businesses, but only Airtel Africa has made the leap so far.
Videos showed lawmakers in Ghana throwing punches during a vote on the 1.75% fee on electronic transactions introduced by president Nana Akufo Addo’s government.