![]() About one-third of these adults did so for the first time after the beginning of the COVID-19 pandemic. In developing economies in 2021, 18 percent of adults paid utility bills directly from an account. COVID-19 catalyzed growth in the use of digital payments. ![]() Seven percent of adults in Sub-Saharan Africa also borrowed using their mobile money account. Mobile money accounts have also become an important method to save in Sub-Saharan Africa, where 15 percent of adults-and 39 percent of mobile money account holders-used one to save-the same share that used a formal account at a bank or other financial institution. In 2021, about three in four mobile account owners in Sub-Saharan Africa used their mobile money account to make or receive at least one payment that was not person-to-person. In Sub-Saharan Africa in 2021, 55 percent of adults had an account, including 33 percent of adults who had a mobile money account-the largest share of any region in the world and more than three times larger than the 10 percent global average of mobile money account ownership. Nor are mobile money account owners just using their accounts for person-to-person payments, as these products were originally designed to do. Mobile money has become an important enabler of financial inclusion in Sub-Saharan Africa-especially for women-as a driver of account ownership and of account usage through mobile payments, saving, and borrowing. ![]()
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