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Gimac records nearly CFA400bn in transactions in 2022, 73% via mobile money

Gimac records nearly CFA400bn in transactions in 2022, 73% via mobile money
  • Comments   -   Monday, 15 May 2023 15:02

(Business in Cameroon) - The Interbank Electronic Banking Group of Central Africa (Gimac) said it recorded 10 million transactions for a cumulative value of CFA395 billion in 2022. Valentin Mbozo'o (pictured), General Manager, said the amount is up 233% compared to 2022.

According to the manager, the good performance was spurred by the launch in 2020 of the GimacPay platform which, in addition to bank cards, now integrates mobile money transactions between the various mobile operators in the Cemac, banks, and microfinance institutions that have mobile wallet linked to bank accounts. Mobile transfers thus represented 73% of Gimac's activity in 2022, and transfers via bank cards represented 27%. "Since GimacPlay was introduced, we have seen a sharp increase in the flows of transactions via mobile money and banking cards,” said Valentin Mbozo'o. More globally, since the beginning of its activities in 2015, Gimac has processed 27 million transactions for a cumulative amount of 1110 billion FCFA.

Cameroon leads the mobile money market in the Cemac region with 64.8% of total active accounts as of December 31, 2020, according to the Beac. By number of transactions, payment service providers in Cameroon accounted for 73.13% of the community's transactions during the period under review.

Cédrick Jiongo

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