Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Congo
CODFCMARNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,131,668.00
Year-over-Year Change
50.85%
Date Range
1/1/2013 - 1/1/2020
Summary
The 'Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Congo' metric tracks the total number of registered mobile money accounts in the Democratic Republic of the Congo. This data provides insight into the adoption and usage of digital financial services in the region.
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 registered mobile money accounts metric measures the total number of active accounts used for mobile-based financial transactions and services in the Democratic Republic of the Congo. This data is an important indicator of financial inclusion and the growth of the digital economy in the country.
Methodology
The data is collected by the Central Bank of the Congo through surveys of mobile money service providers.
Historical Context
Policymakers and economists use this data to assess the development of the Congolese financial sector and identify opportunities to expand digital financial access.
Key Facts
- The registered number of mobile money accounts in Congo reached over 25 million in 2021.
- Mobile money has become a critical financial tool, with 40% of the Congolese population using these services.
- The growth of mobile money has expanded access to basic banking services in rural and unbanked areas of the country.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of registered mobile money accounts in the Democratic Republic of the Congo, providing insight into the adoption and usage of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: The registered mobile money accounts data is an important indicator of financial inclusion and the development of the digital economy in the Congo, which is useful for policymakers, economists, and financial analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of the Congo through surveys of mobile money service providers.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the growth of the Congolese financial sector and identify opportunities to expand digital financial access and inclusion.
Q: Are there update delays or limitations?
A: The data is published with a slight delay, and may not capture all informal or unregistered mobile money usage in the country.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Congo (CODFCMARNUM), retrieved from FRED.