Malawi Mobile Money Subscribers Reach 20 Million
Malawi’s registered mobile money subscribers reached 20.1 million by the end of June 2025 according to the Reserve Bank’s National Payments System Report. The figure represents a 13.95% increase from 17.6 million in the previous quarter. The growth underscores mobile money adoption as a payment platform across Malawi’s digital financial services landscape.
Gender Gap Narrows in Subscriber Base
Male subscribers account for 55.31% of the total base while females represent 44.69%. Female participation improved from 41.85% in the first quarter. Women remain underrepresented relative to their population share, highlighting the need for targeted financial inclusion initiatives.
Activity rates declined during the reporting period despite subscription growth. The 90-day activity rate dropped to 52.14% from 56.32%. The 30-day activity rate decreased to 40.46% from 43.47% in March 2025.
Agent Network Expands Across Urban Centers
Registered mobile money agents increased 19.94% to 656,276 during the quarter. Active agents over 90 days rose 22.23% to 412,862. These agents facilitate cash-in and cash-out transactions while onboarding new customers.
Rural coverage remains limited, with only 27.9% of agents operating in rural regions. Just 46.1% of rural agents were active over 90 days, compared to 85.2% of activity in urban areas. This distribution gap requires targeted expansion strategies for rural financial service access.
Airtime top-ups dominated transaction usage at 44.5% of total volumes. Cash-in and cash-out activities accounted for 33.4% of transactions. Person-to-person and merchant payments represented 9.1% and 7.2% respectively.
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