Cameroon: 15% of youth aged 15+ own a Mobile Money account, compared to 6% in Nigeria

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Cameroon: 15% of youth aged 15+ own a Mobile Money account, compared to 6% in Nigeria

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- Thursday, 15 November 2018 13:15

(Business in Cameroon) - 15% of young Cameroonians aged at least 15 have their own Mobile Money (MoMo) account, making the largest Central African economy a top-listed country in terms of financial inclusion through e-money on the continent.

Cameroon comes behind South Africa where 19% of the focus population own a MoMo account, against 6% in Nigeria. Launched in Cameroon in 2011 by mobile operators in partnership with local banks, the MoMo service is increasingly expanding with thousands of outlets on the territory.

Let’s mention that the Cameroonian tax authorities planned to use the MoMo service for property tax payment. This year, the Ministry of Secondary Education used the service for the payment of fees related to official examinations.

BRM

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