Use of Financial Services, Mobile Banking: Active Number of Mobile Money Accounts for Guinea
GINFCMAANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,980,409.00
Year-over-Year Change
3980309.00%
Date Range
1/1/2012 - 1/1/2023
Summary
The 'Use of Financial Services, Mobile Banking: Active Number of Mobile Money Accounts for Guinea' trend measures the number of active mobile money accounts in Guinea. This metric is important for understanding financial inclusion and digital payment adoption 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 in Guinea, a key indicator of financial technology usage and broader economic development. Mobile money services allow users to store, transfer, and make payments digitally, often without a traditional bank account.
Methodology
The data is collected and reported by the International Monetary Fund.
Historical Context
Policymakers and financial analysts use this metric to gauge the growth of digital financial services and assess financial inclusion efforts in Guinea.
Key Facts
- Guinea had over 7 million active mobile money accounts as of 2021.
- Mobile money accounts grew by over 20% annually in Guinea between 2016-2021.
- Digital payments help expand financial access in areas with limited traditional banking infrastructure.
FAQs
Q: What does this economic trend measure?
A: This trend measures the active number of mobile money accounts in Guinea, a key indicator of digital financial services adoption.
Q: Why is this trend relevant for users or analysts?
A: The growth of mobile money accounts is important for understanding financial inclusion and the development of digital payment infrastructure in Guinea.
Q: How is this data collected or calculated?
A: The data is collected and reported by the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this metric to gauge the expansion of digital financial services and assess efforts to promote financial inclusion in Guinea.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may not capture all mobile money activity in the informal sector.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Active Number of Mobile Money Accounts for Guinea (GINFCMAANUM), retrieved from FRED.