There are now more than 700 million mobile phone users in Africa, this is eight times more than the number of mobile subscribers in Africa in Year 2000, according to a report by the International Telecommunication Union (ITU).
The report showed that mobile technology has been important in the promotion of financial inclusion in Africa; it has also enabled leading global telecom providers to expand their brands and compete for market share. Their strategies have included partnering with smaller manufacturers to develop more affordable mobile devices.
Mobile phone banking services are especially prevalent in Kenya, with penetration rates also relatively high in Uganda and Tanzania. The other countries with high mobile money account penetration rates are the Ivory Coast, Zimbabwe, Botswana, Rwanda and South Africa.
Regulatory reforms and liberalisation have also benefited local mobile operators, with countries such as Ghana, Nigeria and Tanzania having more than five local operators.
