Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Lesotho
LSOFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
732,000,000.00
Year-over-Year Change
12100.00%
Date Range
1/1/2013 - 1/1/2023
Summary
This economic trend measures the value of outstanding balances in active mobile money accounts in Lesotho, providing insights into the use 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
The Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Lesotho tracks the total monetary value held in mobile money accounts by Lesotho residents. This metric is a key indicator of digital financial inclusion and the adoption of mobile banking technologies.
Methodology
The data is collected and reported by the Central Bank of Lesotho.
Historical Context
This trend is useful for analyzing financial technology development and digital payment habits in Lesotho's economy.
Key Facts
- Lesotho has a population of over 2.1 million people.
- Mobile money accounts for over 30% of Lesotho's GDP.
- Lesotho has one of the highest mobile money account penetration rates in Africa.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding balances held in active mobile money accounts by residents of Lesotho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the adoption and usage of digital financial services in Lesotho, which is an important indicator of financial inclusion and technological development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Lesotho.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the growth of digital financial services and inform policies aimed at promoting financial inclusion and technological innovation in Lesotho.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Central Bank of Lesotho, but there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Lesotho (LSOFCMAABXDC), retrieved from FRED.