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3 Reasons Why Mobile Money is King in Cameroun

Using Mobile Money is a popular trend among African People. Many people in Cameroun are now using mobile money services to pay for their daily needs. The usage of MTN Mobile Money Cameroun to pay for meals at the restaurant and other usual services makes the Cameroun one of the advanced nations in the world.

Here are few Statistics that shows the growth of mobile money usage in African Countries:

  • In 2019, 50 million African had opened up their new mobile money account
  • From 2018k, there is an increase of 12% in the usage of mobile money services
  • About 181 million Africa populations estimated to use mobile money. 

The reason why Mobile Money Is King in African Countries, you need to look at the situation through different perspectives. 

  • Connects Family And Friends

African culture is also one of the factors that make mobile money services widely accepted in Cameroun. With the MTN Mobile Money Cameroun, people can make an easy transfer of money to their friends and relatives. Mobile money services are also popular among people looking to extend their business in different countries. The entrepreneurs and businessperson use the mobile money service to get foreign funding.  

  • Makes Easy For The Government To Provide Urgent Aid

The recent Covid-19 pandemic has shown the African people using more and more mobile money services for getting aid or transferring money. The phenomenon like this is not new to African countries like Cameroun, which is using the mobile money service to solve the problem of providing quick aid to the people. 

The African Government had used mobile money services as a medium for transferring government-aid in a tough time like drought, Ebola, floods, and other humanitarian crises. 

  • Better than the Banking Sector

When it comes to the African Banking Sector, there is a room for lot of improvements. The situation in Africa is much different from the western nation when it comes to the use of banks. Around 80% of the African Population is still away from the formal or semi-formal form of banking services. MTN Mobile Money in Cameroun got a wider reach than some banks in Africa. 

Mobile Money services are easy to locate and accessed by the rural population, which is one of the reasons behind its popularity in Cameroun. The urban population in Cameroun also believes in Mobile Money as a secure method of money transfer. 

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