Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Rwanda
RWAFCMARNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,771,214.00
Year-over-Year Change
2834.50%
Date Range
1/1/2010 - 1/1/2023
Summary
The 'Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Rwanda' tracks the number of registered mobile money accounts in Rwanda, a key indicator of financial inclusion and digital banking adoption.
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 economic trend measures the total number of registered mobile money accounts in Rwanda, which is a proxy for the usage and penetration of digital financial services in the country. It is an important metric for understanding financial inclusion and the adoption of mobile banking technologies.
Methodology
The data is collected directly from financial service providers and mobile network operators in Rwanda.
Historical Context
Policymakers and economists use this metric to assess progress towards financial inclusion goals and monitor the growth of the digital economy.
Key Facts
- Rwanda had over 7 million registered mobile money accounts as of 2020.
- Mobile money accounts in Rwanda grew by over 20% annually from 2015 to 2020.
- Over 50% of Rwandan adults now have a registered mobile money account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of registered mobile money accounts in Rwanda, which indicates the usage and adoption of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding financial inclusion and the growth of the digital economy in Rwanda, which is important for policymakers, financial institutions, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from financial service providers and mobile network operators in Rwanda.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess progress towards financial inclusion goals and monitor the growth of the digital economy in Rwanda.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting, and the accuracy of the metric may depend on the completeness of reporting from financial service providers.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Rwanda (RWAFCMARNUM), retrieved from FRED.