Sub-Saharan Africa Leads with Mobile Money in Global Financial Inclusion Push
The report, based on nationally representative surveys of approximately 145,000 adults in 141 economies conducted throughout 2024, provides fresh insights into how mobile phone ownership, internet use, and digital financial services are shaping global financial access.
The World Bank’s Global Findex Database 2025 highlights the growing role of digital connectivity in promoting financial inclusion across developing economies. The report, based on nationally representative surveys of approximately 145,000 adults in 141 economies conducted throughout 2024, provides fresh insights into how mobile phone ownership, internet use, and digital financial services are shaping global financial access.
Global account ownership has surged from 51 percent in 2011 to 79 percent in 2024, with most account holders in low- and middle-income economies now managing digitally enabled accounts. Digital payments are increasingly prevalent: across these economies, 62 percent of all adults—or 82 percent of account owners—made or received at least one digital payment in the year prior to the survey, signaling a significant shift toward cashless transactions.
Mobile money continues to be a major driver of financial inclusion in Sub-Saharan Africa. The region has the largest share of adults who hold only mobile money accounts, with approximately 40 percent of adults across its four subregions using mobile money. The report also notes that mobile money serves as a key savings tool in both Sub-Saharan Africa and Latin America and the Caribbean, with users saving more frequently through mobile accounts than through traditional banking channels.
The study underscores the strong connection between digital access and financial inclusion. Globally, 86 percent of adults own a mobile phone, and 67 percent in low- and middle-income economies use the internet. Yet, 31 percent of adults without financial accounts in these economies also lack mobile phones, highlighting persistent barriers, particularly lack of funds, that limit financial participation.
The report also examines financial health and resilience, revealing that adults worldwide remain most concerned about monthly bills and medical expenses, with school fees a major source of worry in Sub-Saharan Africa. Despite these concerns, the proportion of financially resilient adults in low- and middle-income economies has remained steady since 2021, suggesting that access to digital financial tools is helping to stabilize household financial management.
