Mobile financial services have emerged as a vital tool for enhancing financial inclusion in Africa, especially among populations with limited access to traditional banking. In DRC, the mobile money market is operated by major telecom operators like Vodacom, Orange, Africell, and Airtel.

Subscriptions to mobile financial services in DR Congo surged from 6.59 million in the third quarter of 2020 to 21.67 million in the third quarter of 2023, according to data from the Regulatory Authority for Posts and Telecommunications of Congo (ARPTC). This represents a remarkable growth rate of 228.8%. The mobile money penetration in the country also rose from 7.5% to 22.8% during the same period.

While the regulatory authority refrained from providing reasons for this surge, it can be linked to the introduction of new platforms between 2020 and 2023, coupled with the growing adoption of mobile telephony. Over this period, mobile subscriptions climbed from 39.9 million to 56.2 million, with mobile penetration rising from 45.1% to 59% among an estimated population of 95.2 million.

Let’s however note that despite the upward trend in mobile money adoption, penetration rates remain relatively low, considering the potential of these services as an alternative banking solution for the population. Enhanced adoption of mobile money services is expected to bolster financial inclusion among the population.

In its "Global Findex Database 2021" report, the World Bank confirms that mobile money has become a significant catalyst for financial inclusion in sub-Saharan Africa, particularly for women, as it promotes account ownership and usage through mobile payments, savings, and borrowing.