Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Congo
CODFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,141,721,587.81
Year-over-Year Change
2546.02%
Date Range
1/1/2012 - 1/1/2014
Summary
This economic trend measures the value of outstanding balances in active mobile money accounts in the Democratic Republic of Congo. It provides insights into the adoption and usage of mobile financial services in the country.
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
The Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Congo series tracks the total value held in active mobile money accounts in the Democratic Republic of Congo. This metric reflects the growth and penetration of mobile banking and digital financial services within the Congolese economy.
Methodology
The data is collected and reported by the Central Bank of the Democratic Republic of Congo.
Historical Context
This trend is useful for policymakers and financial sector analysts to monitor the development of digital financial inclusion in the Congolese market.
Key Facts
- Congo's mobile money accounts had over $300 million in outstanding balances in 2021.
- Mobile money adoption has grown rapidly in Congo, reaching over 20% of the adult population.
- Digital financial services are expanding access to banking in rural and underserved areas of Congo.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding balances held in active mobile money accounts in the Democratic Republic of Congo.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the growth and adoption of digital financial services in the Congolese economy, which is crucial for understanding financial inclusion and the development of the country's financial sector.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of the Democratic Republic of Congo.
Q: How is this trend used in economic policy?
A: Policymakers and financial sector analysts use this trend to monitor the development of digital financial inclusion and the growth of mobile banking in the Congolese market.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting by the Central Bank of Congo.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Congo (CODFCMAABXDC), retrieved from FRED.