CEMAC Mobile Money Payments Rise 36% to $5.25 Billion
Mobile Money payments across six CEMAC countries increased 36.33% in 2023, reaching $5.25 billion. The growth from $3.85 billion in 2022 represents a $1.42 billion increase.
Airtime Purchases Dominate Transaction Volume
The Bank of Central African States report found airtime purchases accounted for 57.34% of merchant payments in 2023. Phone credit represents “the main merchant payment service offered by all institutions, including banks without telecom partnerships.”
Users completed 818 million phone credit purchases across Cameroon, Congo, Gabon, Equatorial Guinea, Central African Republic, and Chad. These transactions represented 16.24% of total merchant payment value. Digital adoption has transformed neighborhood services. Former call-box operators specialized in selling airtime became Mobile Money agents. Users increasingly buy credit directly on phones. This led to gradual phase-out of physical recharge cards.
Platform Expands Beyond Phone Services
Mobile Money services now cover water, electricity, cable TV, healthcare, and school fees. Some operators offer micro-insurance and microcredit products. Several governments including Cameroon now allow tax payments through the platform.
The digital finance expansion highlights growing technology adoption across the CEMAC economic region. Payment diversification demonstrates how mobile platforms evolve beyond telecommunications into comprehensive financial service infrastructure.
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