Sub-Saharan Africa Mobile Money Remittances Market, Forecast to 2021

Sub-Saharan Africa Mobile Money Remittances Market, Forecast to 2021

Remittances to become the Fastest Growth Application for Mobile Network Operator-led Mobile Money Wallets

RELEASE DATE
25-Oct-2017
REGION
Africa
Research Code: MCA0-01-00-00-00
SKU: TE03779-AF-MR_20988

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TE03779-AF-MR_20988

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$2,250.00 save 25 %

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Description

Sub-Saharan Africa (SSA) is witnessing a surge migration within the region and to other parts of the world such as North America and Europe. As a continent, Africa had a net migration population of over 11 million in 2015, predominantly economic migration.
•     This has been instrumental in the growing volume of international remittances flowing into the region, as migrant workers transfer money to family members in their countries of origin. International money transfers were estimated to be $33 billion in 2016 and were expected to grow by 3.9% over the period 2016-2021, to reach $39.9 billion in 2021.
•     Mainstream money transfer operators (MTOs) such as MoneyGram and Western Union dominate the market for international remittances across Africa. Due to their high service cost, consumers have also relied on informal channels, estimated to make up 75% of the total volume of remittances.
•     The growing adoption of mobile money services has seen consumers increasingly turn to mobile money for their remittances, largely due to their relative convenience and affordability compared to the services of mainstream MTOs.
•     It is estimated that 2.6% of the remittances in 2016 flowed through mobile money wallets, primarily in East African and West African markets, which have a greater uptake of mobile money services. By 2021, mobile money wallets will account for 4.5% of the total value of international remittances.
•     The study focuses on the current structure of tower ownership between mobile network operators (MNOs) and towercos and how this is expected to evolve over the long term. The report also provides an overview of the current and expected base of mobile towers in the region, highlighting potential opportunities in the market and competitive structure across selected countries.
•     Mobile network operators (MNOs) will need to consider partnerships with clearing and settlement platform providers such as TerraPay in order to drive the use of mobile money-based remittances.
•     MNOs with a large SSA footprint should consider creating remittance corridors in the region by enabling international transfers across the operations in which they have a presence as a way to enter the market.
•     MTOs face the growing risk of being dis-intermediated by the MNOs’ mobile money wallets, and will need to consider either partnerships with Fintechs or leveraging technology in order to make their services more affordable.
•     At a cost of 11.2% of the transaction value, banks continue to be the most expensive channel to send remittances. Processing remittances through mobile money wallets is by far the cheapest option available to consumers at just over a quarter of the cost charged by the banks.

Table of Contents

Key Findings

Strategic Imperatives for Service Providers

Research Scope

Market Definitions

Remittances Value Chain

Remittance Business Model

Trends Shaping the Industry

Global Remittance Flow Trends

Mobile and Financial Markets as a Platform for Remittances

Mobile and Banking Service Adoption Trends

Remittance Business Model—Pre-funded Model

Market Drivers

Market Restraints

Mobile Money Remittance Service Trends

Remittance and Revenue Forecast

Total Remittances Market Demand Analysis

Cost of Transferring Money

Global Remittance Cost Trends

Cost of Transferring Money By Region

Global Remittance Cost Trends

Mobile Wallet Service Mapping

Cost of Transferring Money by Service Type

Growth Opportunity 1—Interoperability

Growth Opportunity 2—Standardization

Growth Opportunity 3—Service Distribution

Strategic Imperatives for Success and Growth

Migration Trends

Market Overview

Mobile Money Remittance Cash-in and Cash-out

Overview of the SSA Remittances Competitive Landscape

Mobile Money Wallet Remittance Partnerships

Airtel

Mobile Wallet Profile—Orange Money

Mobile Wallet Profile—WorldRemit

The Last Word—Three Big Predictions

Legal Disclaimer

Market Definitions—Abbreviations

List of Figures
  • 1. Mobile Money Remittances Market: Money Transfer Channels, SSA, 2016
  • 2. Mobile Money Remittances Market: Estimates and Projections of Remittance Flows, Global, 2010–2018
  • 3. Mobile Money Remittances Market: Mobile Penetration and Banking Penetration by Region, Global, 2016
  • 4. Mobile Money Remittances Market: Key Market Drivers, SSA, 2017–2021
  • 5. Mobile Money Remittances Market: Key Market Restraints, SSA, 2017–2021
  • 6. Mobile Money Remittances Market: Key Trends in Mobile Money-based Remittances Services, SSA, 2016
  • 7. Mobile Money Remittances Market: Long-term Evolution of the Market, SSA, 2016–2021
  • 8. Mobile Money Remittances Market: People Migration by Region, Global, 2015
  • 9. Mobile Money Remittances Market: Remittance Trends, Africa, 2015
  • 10. Mobile Money Remittance Market: Urban Populations, Africa, 2025
  • 11. Mobile Money Remittances Market: Competitive Structure, Sub-Saharan Africa, 2015
  • 12. Mobile Money Remittances Market: Service Provider Partnerships, Africa, 2016
  • 13. Mobile Money Remittances Market: Airtel Regional Remittances Markets, SSA, 2016
  • 14. Mobile Money Remittances Market: Airtel Remittances Service Overview, SSA, 2016
  • 15. Mobile Money Remittances Market: Orange Regional Remittances Markets, SSA, 2016
  • 16. Mobile Money Remittances Market: Orange Remittances Service Overview, SSA, 2016
  • 17. Mobile Money Remittances Market: WorldRemit Regional Remittances Markets, SSA, 2016
  • 18. Mobile Money Remittances Market: WorldRemit Remittances Service Overview, SSA, 2016
List of Charts
  • 1. Mobile Money Remittances Market: Mobile and Banking Penetration Rates Across Regions, Global, 2015
  • 2. Mobile Money Remittances Market: Subscriber and Revenue Forecast, SSA, 2014–2021
  • 3. Mobile Money Remittances Market: Penetration Analysis, SSA, 2014–2021
  • 4. Mobile Money Remittances Market: Remittances Transaction Costs in Developing Countries, Global, 2012 and 2016
  • 5. Mobile Money Remittances Market: Cost to Send Remittances by Region, Global, 2016
  • 6. Mobile Money Remittances Market: Average Remittance Service Cost by Type, Global, 2016
  • 7. Mobile Money Remittances Market: Mobile Money Split by Service, SSA, 2016
  • 8. Mobile Money Remittances Market: Cost to Send Remittances by Service Type, SSA, 2016
  • 9. Urban Population Forecast by Region: Global, 1995–2025
Related Research
Sub-Saharan Africa (SSA) is witnessing a surge migration within the region and to other parts of the world such as North America and Europe. As a continent, Africa had a net migration population of over 11 million in 2015, predominantly economic migration. • This has been instrumental in the growing volume of international remittances flowing into the region, as migrant workers transfer money to family members in their countries of origin. International money transfers were estimated to be $33 billion in 2016 and were expected to grow by 3.9% over the period 2016-2021, to reach $39.9 billion in 2021. • Mainstream money transfer operators (MTOs) such as MoneyGram and Western Union dominate the market for international remittances across Africa. Due to their high service cost, consumers have also relied on informal channels, estimated to make up 75% of the total volume of remittances. • The growing adoption of mobile money services has seen consumers increasingly turn to mobile money for their remittances, largely due to their relative convenience and affordability compared to the services of mainstream MTOs. • It is estimated that 2.6% of the remittances in 2016 flowed through mobile money wallets, primarily in East African and West African markets, which have a greater uptake of mobile money services. By 2021, mobile money wallets will account for 4.5% of the total value of international remittances. • The study focuses on the current structure of tower ownership between mobile network operators (MNOs) and towercos and how this is expected to evolve over the long term. The report also provides an overview of the current and expected base of mobile towers in the region, highlighting potential opportunities in the market and competitive structure across selected countries. • Mobile network operators (MNOs) will need to consider partnerships with clearing and settlement platform providers such as TerraPay in order to drive the use of mobile money-based remittances. •
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Table of Contents | Executive Summary~ || Key Findings~ || Strategic Imperatives for Service Providers~ | Project Scope and Definitions~ || Research Scope~ || Market Definitions~ || Remittances Value Chain~ || Remittance Business Model~ | Market Overview~ || Trends Shaping the Industry~ || Global Remittance Flow Trends~ || Mobile and Financial Markets as a Platform for Remittances~ || Mobile and Banking Service Adoption Trends~ || Remittance Business Model—Pre-funded Model~ | Market Drivers and Restraints~ || Market Drivers~ || Market Restraints~ | Forecast and Trends—Total Mobile Money Remittances Market~ || Mobile Money Remittance Service Trends~ || Remittance and Revenue Forecast~ || Total Remittances Market Demand Analysis~ | Remittance Service Fee Trends~ || Cost of Transferring Money~ || Global Remittance Cost Trends~ || Cost of Transferring Money By Region~ || Global Remittance Cost Trends~ || Mobile Wallet Service Mapping~ || Cost of Transferring Money by Service Type~ | Growth Opportunities and Providers to Action~ || Growth Opportunity 1—Interoperability~ || Growth Opportunity 2—Standardization~ || Growth Opportunity 3—Service Distribution~ || Strategic Imperatives for Success and Growth~ | Country Analysis~ || Migration Trends~ || Market Overview~ | Competitive Landscape~ || Mobile Money Remittance Cash-in and Cash-out~ || Overview of the SSA Remittances Competitive Landscape~ || Mobile Money Wallet Remittance Partnerships~ || Airtel~ || Mobile Wallet Profile—Orange Money~ || Mobile Wallet Profile—WorldRemit~ | The Last Word~ || The Last Word—Three Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Definitions—Abbreviations~ | The Frost & Sullivan Story~
List of Charts and Figures 1. Mobile Money Remittances Market: Money Transfer Channels, SSA, 2016~ 2. Mobile Money Remittances Market: Estimates and Projections of Remittance Flows, Global, 2010–2018~ 3. Mobile Money Remittances Market: Mobile Penetration and Banking Penetration by Region, Global, 2016~ 4. Mobile Money Remittances Market: Key Market Drivers, SSA, 2017–2021~ 5. Mobile Money Remittances Market: Key Market Restraints, SSA, 2017–2021~ 6. Mobile Money Remittances Market: Key Trends in Mobile Money-based Remittances Services, SSA, 2016~ 7. Mobile Money Remittances Market: Long-term Evolution of the Market, SSA, 2016–2021~ 8. Mobile Money Remittances Market: People Migration by Region, Global, 2015~ 9. Mobile Money Remittances Market: Remittance Trends, Africa, 2015~ 10. Mobile Money Remittance Market: Urban Populations, Africa, 2025~ 11. Mobile Money Remittances Market: Competitive Structure, Sub-Saharan Africa, 2015~ 12. Mobile Money Remittances Market: Service Provider Partnerships, Africa, 2016~ 13. Mobile Money Remittances Market: Airtel Regional Remittances Markets, SSA, 2016~ 14. Mobile Money Remittances Market: Airtel Remittances Service Overview, SSA, 2016~ 15. Mobile Money Remittances Market: Orange Regional Remittances Markets, SSA, 2016~ 16. Mobile Money Remittances Market: Orange Remittances Service Overview, SSA, 2016~ 17. Mobile Money Remittances Market: WorldRemit Regional Remittances Markets, SSA, 2016~ 18. Mobile Money Remittances Market: WorldRemit Remittances Service Overview, SSA, 2016~| 1. Mobile Money Remittances Market: Mobile and Banking Penetration Rates Across Regions, Global, 2015~ 2. Mobile Money Remittances Market: Subscriber and Revenue Forecast, SSA, 2014–2021~ 3. Mobile Money Remittances Market: Penetration Analysis, SSA, 2014–2021~ 4. Mobile Money Remittances Market: Remittances Transaction Costs in Developing Countries, Global, 2012 and 2016~ 5. Mobile Money Remittances Market: Cost to Send Remittances by Region, Global, 2016~ 6. Mobile Money Remittances Market: Average Remittance Service Cost by Type, Global, 2016~ 7. Mobile Money Remittances Market: Mobile Money Split by Service, SSA, 2016~ 8. Mobile Money Remittances Market: Cost to Send Remittances by Service Type, SSA, 2016~ 9. Urban Population Forecast by Region: Global, 1995–2025~
Author Lehlohonolo Mokenela
Industries Telecom
WIP Number MCA0-01-00-00-00
Is Prebook No
GPS Codes 9655,9657,9705-C1,9820-C1,99D9-C1