Use of Financial Services, Mobile Banking: Active Number of Mobile Money Accounts for Congo
CODFCMAANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,879,137.88
Year-over-Year Change
2653.07%
Date Range
1/1/2013 - 1/1/2020
Summary
The 'Use of Financial Services, Mobile Banking: Active Number of Mobile Money Accounts for Congo' series measures the total number of active mobile money accounts in the Democratic Republic of the Congo. This metric provides insight into the adoption and usage of digital financial services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the active number of mobile money accounts, which are digital accounts used for a variety of financial transactions like money transfers, bill payments, and mobile airtime top-ups. The data offers an indicator of financial inclusion and the growth of mobile banking in the Congolese market.
Methodology
The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Historical Context
This metric is useful for policymakers, financial institutions, and analysts studying the development of digital finance infrastructure and financial inclusion in the region.
Key Facts
- The active number of mobile money accounts in Congo reached over 13 million in 2021.
- Mobile money has become a critical financial service in Congo, with over 40% of the adult population now using it.
- The rapid growth of mobile banking has helped expand access to financial services in underbanked rural areas of the country.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total number of active mobile money accounts in the Democratic Republic of the Congo. It provides a metric for the adoption and usage of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: The growth of mobile money accounts is an important indicator of financial inclusion and the development of digital finance infrastructure in the Congolese market. This data is valuable for policymakers, financial institutions, and economists studying the expansion of digital financial services.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Democratic Republic of the Congo.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, regulators, and development organizations to track progress on financial inclusion goals and monitor the growth of the mobile money ecosystem in Congo.
Q: Are there update delays or limitations?
A: The mobile money account data is published with some delay, typically a few quarters behind the current period. There may also be limitations in coverage or reporting consistency across different mobile money service providers.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Active Number of Mobile Money Accounts for Congo (CODFCMAANUM), retrieved from FRED.