• More than CFA1,000 billion received via mobile money in 2024

• Total inflows rise 77% to CFA1,354 billion, led by Europe and North America

• Mobile platforms gain ground as main channel for diaspora transfers

The Bank of Central African States (BEAC) 2024 report on payment services shows that more than CFA1,000 billion was received directly into mobile money accounts from the diaspora over the year.

This growth reflects a broader rise in international inflows to the region. The number of transactions increased from 2.91 million in 2023 to 7.81 million in 2024, a 2.7-fold jump. In value terms, transfers reached CFA1,354 billion, up from CFA763.81 billion a year earlier, an increase of about 77%.

The European Union remains the main source of these flows, accounting for 4.27 million transactions worth CFA804 billion. North America follows with 2.24 million transactions totaling CFA275 billion. Together, these two regions represent the bulk of incoming transfers. Flows from West Africa remain much smaller, with about 107,000 transactions for CFA21.8 billion.

Mobile money has emerged as a key driver of this shift. International transfers, once dominated by banks and specialized money transfer operators, are now increasingly handled through mobile platforms. This change reflects the wider use of mobile phones for payments, as well as the expansion of distribution networks. In 2024, CEMAC had more than 51 million mobile payment accounts, up 28%, and over 634,000 service points.

The trend is less uniform for outbound transfers from the region. The number of transactions rose 42.6% to 1.29 million in 2024, but their total value fell by 11.92% to CFA756.7 billion. This suggests a rise in smaller transactions alongside a decline in average transfer amounts.

BEAC data confirm the growing role of mobile money in international transfers. Mobile platforms are becoming the main channel for receiving diaspora funds, driven by accessibility and extensive coverage. The report notes, however, that certain uses remain regulated. Mobile money services are mainly used to send amounts of up to CFA1 million outside the region, while incoming transfers within CEMAC face no such limits.

Amina Malloum