The adoption of mobile money is on the rise in Africa, offering a financial inclusion solution for many who lack traditional banking access.

In 2022, the Malian Telecommunications, ICT, and Postal Regulatory Authority (AMRTP) revealed a significant surge in mobile money accounts, reaching 14.5 million in Mali. This represents a remarkable 150% increase from the 5.8 million reported by operators in 2017. Over the period, mobile money penetration jumped from 31% to 66%.

While platforms like Orange Money and Moov Money dominate, the market's competitiveness intensifies with the entry of new players like Sama Money, Wave, and Wizall Money. The growth of mobile money services in Mali is closely intertwined with mobile phone usage, as a SIM card is necessary to open a mobile money account with telecom operators. Mali's mobile subscriptions surged from 22 million in 2017 to 25.8 million in 2022, resulting in a 117% mobile penetration rate.

Recognized as a "true catalyst" for financial inclusion and public payments by AMRTP, mobile money contributed 30% to Mali's financial inclusion rate, which stood at 54% in 2022 according to the regulator's data. As a pivotal driver for digital economy development, the regulator advocates for initiatives that promote the growth of mobile money services.

The Malian telecom regulator recommends implementing appropriate regulatory measures to enhance market competition, reduce access costs, and consider measures favorable for public payments and platform interoperability. This collaborative effort among regulatory authorities (telecom, banking, competition) is essential to overcome these challenges and foster a conducive environment for mobile money development.