Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Madagascar
MDGFCMARNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,807,122.00
Year-over-Year Change
11550.81%
Date Range
1/1/2010 - 1/1/2022
Summary
This economic trend measures the registered number of mobile money accounts in Madagascar, a key indicator of financial inclusion and the adoption of digital financial services.
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 in Madagascar represents the total number of accounts that have been set up to access and use mobile banking and payment services. This data provides insights into the growth and penetration of digital financial technology in the country.
Methodology
The data is collected and reported by the Central Bank of Madagascar.
Historical Context
This trend is closely monitored by policymakers, financial institutions, and development organizations to assess progress towards financial inclusion and the digitization of the Malagasy economy.
Key Facts
- Madagascar had over 12 million registered mobile money accounts as of 2021.
- Mobile money accounts in Madagascar grew by over 20% annually from 2015 to 2021.
- Over 60% of the adult population in Madagascar used mobile money services in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of registered mobile money accounts in Madagascar, which is a key indicator of financial inclusion and the adoption of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the growth and penetration of mobile banking and digital financial technology in Madagascar, which is critical for understanding financial inclusion and the digitization of the economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Madagascar.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, financial institutions, and development organizations to assess progress towards financial inclusion and the digitization of the Malagasy economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Madagascar, but there may be occasional delays in reporting or limitations in coverage.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Madagascar (MDGFCMARNUM), retrieved from FRED.