Global Microscope Report: Cameroon’s Mobile Financial Growth

According to the 2018 Global Microscope Report of The Economist Newspaper, 15 per cent of young Cameroonians aged 15 and over, have their own Mobile Money account, making it a country that counts in Africa in terms of financial inclusion via mobile. The report also reveals that from this point of view, Cameroon is not far from South Africa, of which 19 per cent of the population aged 15 and above, have a mobile account, compared to only 6 per cent of young Nigerians of the same age group. Launched in Cameroon from 2011 by mobile operators, in partnership with local banks, the Mobile Money service is booming. Cameroon’s mobile Money transfer reached FCFA 3.500 billion in 2017 far above 300 billion the previous year, and the number of adult subscribers grew from 9 per cent in 2012 to 28 per cent in 2016. In 2018, the Ministry of Secondary Education made it a channel for the payment of fees and various official exams.

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