The GSMA, a global organization unifying the mobile ecosystem, has stated that the mobile money economy is an opportunity for job creation and financial inclusion in Nigeria.
Angela Wamola, Head Sub Saharan Africa, GSMA, disclosed while speaking to journalists on the sidelines of the GSMA Nigeria Digital Economy Report Launch on Thursday, May 9, 2024.
According to her, in 2024 alone, $920 billion was transacted digitally on the African continent, more than the entire export value of Africa for a year.
She said:
Wamola added that financial inclusion is the bedrock of digital services, stressing that Nigeria has a lot to do in closing the gap.
Meanwhile, the GSMA’s report emphasizes that while 29% of Nigerians regularly use mobile internet, there remains an untapped potential of 71% who do not access these services regularly.
The report recommends initiatives to help policymakers create an economic and regulatory environment that promotes growth, investment, and competition.
TimesNow.com.ng previously reported that as Nigerians brace for the entry of Elon Musk’s Starlink into ISP space in the country, competition in the sector is getting stiffer.
The recent competition in the industry has seen a crash in the cost of the service in the country with many providers jostling for pockets of Nigerians.
Many of the service providers in Nigeria depend heavily on subscription models and their services are geared towards meeting the needs of corporate clients.
Source: TimesNow.com.ng
