October 28, 2025

FINTECH MAGAZINE AFRICA

Fintech eyes in africa

Africa’s Mobile Revolution Powers USD 220 Billion Economic Boost Paving the Way to a USD 270 Billion Digital Future

2 min read

Africa’s mobile technology sector generated an impressive USD 220 billion in economic value in 2024, representing 7.7% of the continent’s GDP, according to the Mobile Economy Africa 2025 report released by the Global System for Mobile Communications Association (GSMA).

The report, launched at the Mobile World Congress in Kigali, outlines the transformative role of mobile connectivity across Africa and predicts that the industry could contribute as much as USD 270 billion to Africa’s GDP by 2030. “Mobile technology is not just connecting people it’s creating economies,” said Angela Wamola, Head of Africa at GSMA. “The next wave of growth depends on how well Africa integrates AI, fintech, and mobile innovation to close the digital divide.”

The GSMA notes that the expansion of 4G and 5G networks, combined with the adoption of artificial intelligence, could potentially double Africa’s GDP growth by 2035. The integration of these technologies is expected to revolutionize sectors such as healthcare, education, and public services improving access, efficiency, and inclusion.

Industry experts at the Kigali forum described mobile technology as “the backbone of Africa’s modern economy.” They emphasized how mobile innovation is driving financial inclusion, job creation, and entrepreneurship — particularly in key sectors such as agriculture, logistics, and fintech.

Mobile money platforms like M-Pesa and MoMo continue to lead this transformation by expanding access to financial services. These platforms provide millions of unbanked Africans with digital wallets, savings options, and microloans, strengthening local economies and enabling small-scale enterprises to thrive.

Despite the progress, challenges persist. Although 90% of Africans now live within 3G or 4G coverage, only 58% actively use mobile internet. High data costs, limited digital literacy, and low trust in online services remain major barriers to full digital inclusion.

Rwanda stands out as a model of rapid digital adoption. Between 2023 and 2025, the country increased its 4G users from 500,000 to 5 million through strong public-private collaboration and a comprehensive digital inclusion policy. “By ensuring the promise of connectivity reaches every home, school, and hospital, we are transforming lives,” said Paula Ingabire, Rwanda’s Minister of ICT.

Through programs like the Digital Ambassadors Program, Rwanda has connected nearly 1,000 health centers, 4,000 schools, and trained over 4.5 million citizens in digital skills. Ingabire highlighted the need for locally driven innovation, stating, “We must connect people, ideas, and markets creating solutions designed in Africa, built for Africa, and scaled to the world.”

The GSMA report concludes that with stronger investment, inclusive policies, and regional cooperation, Africa’s digital transformation could become one of the most powerful economic engines of the next decade.

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