DUBLIN--(BUSINESS WIRE)--The "Sub-Saharan Africa Mobile Money Remittances Market, Forecast to 2021" report has been added to Research and Markets' offering.
Sub-Saharan Africa (SSA) is witnessing a surge migration within the region and to other parts of the world such as North America and Europe. As a continent, Africa had a net migration population of over 11 million in 2015, predominantly economic migration.
This has been instrumental in the growing volume of international remittances flowing into the region, as migrant workers transfer money to family members in their countries of origin. International money transfers were estimated to be $33 billion in 2016 and were expected to grow by 3.9% over the period 2016-2021, to reach $39.9 billion in 2021.
Mainstream money transfer operators (MTOs) such as MoneyGram and Western Union dominate the market for international remittances across Africa. Due to their high service cost, consumers have also relied on informal channels, estimated to make up 75% of the total volume of remittances.
The growing adoption of mobile money services has seen consumers increasingly turn to mobile money for their remittances, largely due to their relative convenience and affordability compared to the services of mainstream MTOs.
It is estimated that 2.6% of the remittances in 2016 flowed through mobile money wallets, primarily in East African and West African markets, which have a greater uptake of mobile money services. By 2021, mobile money wallets will account for 4.5% of the total value of international remittances.
The study focuses on the current structure of tower ownership between mobile network operators (MNOs) and towercos and how this is expected to evolve over the long term. The report also provides an overview of the current and expected base of mobile towers in the region, highlighting potential opportunities in the market and competitive structure across selected countries.
Companies Mentioned
- Airtel
- Orange Money
- WorldRemit
Key Topics Covered:
1. Executive Summary
2. Project Scope and Definitions
3. Market Overview
4. Market Drivers and Restraints
5. Forecast and TrendsTotal Mobile Money Remittances Market
6. Remittance Service Fee Trends
7. Growth Opportunities and Providers to Action
8. Country Analysis
9. Competitive Landscape
10. The Last Word
For more information about this report visit https://www.researchandmarkets.com/research/5j4kb9/subsaharan
