Africa’s Mobile Money Industry Keeps Growing Despite COVID-19
Source: The African Exponent
The COVID-19 pandemic, which has been in news headlines all 2020, has caused several industries’ deterioration. Not just in Africa but all over the world. Data from S&P Global Market Intelligence shows that airlines, leisure facilities, casinos & gaming, oil & gas drilling, and auto parts & equipment are five industries affected most by the pandemic.
Despite all of this, the mobile money industry in Africa remains unaffected. In fact, the industry is experiencing rapid growth amidst the pandemic. The effects of lockdown and no-contact imposed by the pandemic had contributed massively to the industry’s growth the past year.