The state of payments in Africa

The payment landscape in Africa is unique. Unlike Europe or America, Mobile Money largely dominates digital transactions.

Key Figures 2024

- 700+ million Mobile Money accounts in Africa

  • 65% of adults use Mobile Money
  • Only 5% have access to an international credit card

    Mobile Money: The local champion

    Advantages

    - Maximum Accessibility - No bank account needed

  • Trust - Customers know and trust it
  • Simplicity - Transaction in seconds
  • Low Fees - 1-3% on average

    Disadvantages

    - Transaction limits (depending on countries)

  • Fragmentation (each operator has its system)
  • Reconciliation sometimes complex

    Main Operators

    - Orange Money: Senegal, Ivory Coast, Mali, Cameroon, Guinea

  • MTN MoMo: Ghana, Cameroon, Nigeria, Uganda, Rwanda
  • Wave: Senegal, Ivory Coast, Mali, Burkina Faso
  • M-Pesa: Kenya, Tanzania, DRC, Ghana

    Credit Cards: For international

    Advantages

    - Diaspora - Essential for customers abroad

  • High Baskets - Customers with more purchasing power
  • Universality - Visa/Mastercard accepted everywhere

    Disadvantages

    - Low penetration (5-10% of population)

  • Higher fees (2.5-4%)
  • Security concerns

    Our Recommendation

    Offer both!

    With Jaaba, you can activate Mobile Money AND credit cards in a few clicks. Let your customers choose their preferred method.

    Optimal Strategy

    1. Mobile Money first - This is what 90% of your customers will use

    • 2. Cards for diaspora - Important source of revenue 3. Cash on Delivery - For wary customers

    Conclusion

    Don't choose between Mobile Money and credit cards. Success in African e-commerce requires accepting all local payment methods.