Use of Financial Services, Mobile Banking: Value of Outstanding Balances in Active Mobile Money Accounts for Namibia
NAMFCMAABXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,059,853.02
Year-over-Year Change
5273.17%
Date Range
1/1/2010 - 1/1/2023
Summary
This trend measures the value of outstanding balances in active mobile money accounts in Namibia, providing insights into the use of financial services and the adoption of mobile banking.
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 Namibia tracks the total monetary value held in active mobile money accounts in the country. This metric is a key indicator of the growth and usage of mobile-based financial services, which can drive financial inclusion and economic development.
Methodology
The data is collected and reported by the Bank of Namibia.
Historical Context
This trend is closely monitored by policymakers, regulators, and financial institutions to assess the development of Namibia's digital finance ecosystem.
Key Facts
- Namibia has over 1 million active mobile money accounts.
- The total value of outstanding balances in these accounts exceeds $100 million.
- Mobile money usage has grown rapidly in Namibia in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding balances in active mobile money accounts in Namibia, providing insights into the usage and adoption of mobile-based financial services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the development of Namibia's digital finance ecosystem and the increasing role of mobile money in promoting financial inclusion and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bank of Namibia, the country's central bank.
Q: How is this trend used in economic policy?
A: Policymakers and regulators closely monitor this trend to assess the progress of financial inclusion initiatives and the overall health of Namibia's digital finance sector.
Q: Are there update delays or limitations?
A: The data is typically published with a short delay, and may be subject to revisions as new information becomes available.
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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 Namibia (NAMFCMAABXDC), retrieved from FRED.