Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Lesotho
LSOFCMARNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,710,361.00
Year-over-Year Change
503.99%
Date Range
1/1/2013 - 1/1/2023
Summary
This trend measures the registered number of mobile money accounts in Lesotho, providing insight into the adoption and use of digital 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 registered number of mobile money accounts is an important indicator of financial inclusion and the growth of mobile banking. It represents the number of active accounts linked to mobile devices that can be used for a variety of transactions, including deposits, withdrawals, and payments.
Methodology
The data is collected and reported by the Central Bank of Lesotho.
Historical Context
This metric is used by policymakers, financial institutions, and development organizations to assess progress towards financial inclusion and the development of digital finance.
Key Facts
- Lesotho had over 1 million registered mobile money accounts as of 2021.
- Mobile money accounts in Lesotho grew by over 20% annually between 2017 and 2021.
- Approximately 40% of the adult population in Lesotho has a registered mobile money account.
FAQs
Q: What does this economic trend measure?
A: This trend measures the registered number of mobile money accounts in Lesotho, which is an indicator of the adoption and use of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: The registered number of mobile money accounts is an important metric for assessing financial inclusion and the development of digital finance in Lesotho, which is relevant for policymakers, financial institutions, and development organizations.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Lesotho.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, financial institutions, and development organizations to monitor progress towards financial inclusion and the growth of digital finance in Lesotho.
Q: Are there update delays or limitations?
A: There may be occasional delays in the reporting of this data, and the accuracy of the registered account numbers may be affected by factors such as dormant or inactive accounts.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Lesotho (LSOFCMARNUM), retrieved from FRED.