Africa Holds Promise for Mobile Carrier's Banking Service: Chart

(Bloomberg) -- Sub-Saharan Africa accounts for about half of the world’s active mobile-money services. MTN Group is seeking to challenge wireless-phone rival Vodacom as the continent’s biggest digital bank by tripling its customer base within three years. The number of mobile-money customers in the region is growing rapidly, having surpassed the number of traditional bank accounts in 2015 to reach 277 million by the end of last year, according to GSMA.

To contact the reporters on this story: Janice Kew in Johannesburg at jkew4@bloomberg.net, Loni Prinsloo in Johannesburg at lprinsloo3@bloomberg.net, Ville Heiskanen in Helsinki at vheiskanen@bloomberg.net.

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net.

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