Africa’s mobile money industry is entering a new phase, one where digital payments are becoming essential infrastructure for businesses, utilities and everyday services rather than simply a tool for transferring money.
That shift is evident in the latest milestone announced by payments company PawaPay, which said it has processed three billion mobile money transactions across Africa.
The company reached its third billion transactions in less than nine months, three months faster than it took to process its previous billion, while daily transaction volumes nearly doubled from about 2.4 million to five million payments.
While the figures highlight PawaPay’s growth, they also point to a broader transformation taking place across Africa’s digital economy.
Mobile money is increasingly being used to pay electricity bills, purchase airtime, settle school fees, subscribe to digital services, collect business payments and support e-commerce transactions.
