2025 Global Findex: Financial Inclusion and Mobile Tech in Sub-Saharan Africa

The Global Findex, launched in 2011, is a comprehensive survey and database compiling figures on financial inclusion as well as financial institution and tech usage across 140 economies. Global Findex 2025 captures developments in the last five years in how adults worldwide pay, save and manage money since the last edition.

Standing at 342 pages, the report is extensive and rich in 2024 global finance data. Here are some insights on financial inclusion and mobile technology in sub-Saharan Africa.

In Sum

• Account ownership has grown globally, but sub-Saharan Africa remains below the global average, with wide country variation and large gender and income gaps.
• Mobile phone ownership is high and strongly linked to financial inclusion, though smartphone access is unequal.
• Sub-Saharan Africa leads in mobile money use, with 20% of adults relying solely on mobile money accounts.
• Strong mobile adoption creates opportunities to expand digital finance and alternative payment solutions.

Financial Institution Account Ownership Rates

Financial Account Ownership: The Big Picture

• Between Global Findex 2011 and the 2025 edition, global account ownership increased from 51% to 79%.

In sub-Saharan Africa, account ownership from country to country ranges from as low as 15% to as high as 90%. While the continent saw dramatic increase in account ownership since 2011, the region remains comparatively underserved.

Sub-Saharan Africa sees much variance in terms of financial account ownership, with a median percentage of 56% for the 35 surveyed countries of the area, and a nearly equivalent average.

Financial Account Ownership: Within Sub-Saharan Africa

• In low to middle income countries, financial institution ownership increased from 42% in 2011 to 75% in the latest report.

Mauritius and Kenya, followed by South Africa with a 9 percentage point difference, boast a population with 90% of account ownership—levels comparable to countries like Portugal. Interestingly, the top three countries of sub-Saharan Africa in terms of account rates represent different subregions, from an island in the Indian Ocean to Eastern and Southern Africa.

On the other hand, the three countries with the highest levels of unbanked population are situated right in the Sahara desert in Western and Central Africa.

Gaps in Account Ownership

• 81% of men worldwide and 77% of women have accounts with a gender gap of 4 percentage points.

Underserved populations in sub-Saharan Africa experience the widest disparities in financial account ownership globally, particularly between the wealthiest 60% and the poorest 40% of the population, as well as across education levels and between rural and urban communities.

There exists a gender gap of nearly 12 percentage points in sub-Saharan Africa, though the Middle East and North Africa have a larger gap at 15 percentage points.

Mobile Phone Ownership Rates

Mobile Phone Ownership: The Big Picture

• Worldwide, 86% of adults own a mobile phone.

Though not complete, mobile technology is spread across the continent in terms comparable to what we see elsewhere in the world. The average for surveyed sub-Saharan African countries is at 76% of the population owning mobile phones, while the median rests at 80%.

Some countries with low financial institution account ownership boast high levels of mobile phones in their population. For example, Mauritania is among the countries with the lowest rates of financial inclusion, with only 27% of its population with an account. On the other hand, 85% of its population own mobile phones, putting it well in line with the global average.

Despite the existence of outliers, immediately noticeable in Map 2, a correlation coefficient of 0.7017019342 indicates a relatively high positive relationship between owning a phone and a financial account.

Mobile Phone Ownership Gap

Phone ownership is not evenly distributed across population segments. A pronounced disparity exists between the wealthiest 60% and the poorest 40% of the sub-Saharan African population, and this divide becomes even more evident when examining the type of device owned. 

Only 20% of individuals in the poorest 40% own a smartphone, compared with 40% among the wealthiest 60%. On the other hand, basic phone ownership, for essential communication and basic Internet access, is more equitable across income levels.

Mobile Tech for Financial Inclusion: An Opportunity

• In all regions other than sub-Saharan Africa, less than 5% of adults have only a mobile money account.

While the overlap between mobile phone ownership and financial account ownership is not perfect, the fact that a large and growing proportion of the population owns a phone represents an opportunity. Many African mobile money companies like Orange Money and M-PESA have already started taking advantage of it.

And indeed, nowhere in the world has mobile money worked as well as it does in sub-Saharan Africa, a testament to the potential of mobile technology and financial inclusion to grow together. In sub-Saharan Africa, more adults own only a mobile money account (20%) than those who own only an account at a formal financial institution—a pattern that is reversed in every other region of the world.

Mobile money enables adults in sub-Saharan Africa to save more frequently than their counterparts using financial institutions to save money, and digital payments are frequently made. Still, many people don’t own a mobile account, with 50% to 65% across different subregions citing lack of money as the reason why.

Stablecoins & EZO

Stablecoins enable faster and cheaper payments for retail users and enterprises alike, no matter where you are. Though no mention of anything cryptocurrency-related was made in the Global Findex 2025, stablecoins have been taking the world by storm, including in sub-Saharan Africa.

EZO helps Canadians acquire and sell stablecoins at the live market rate and with transparent fees which lower as you trade. Contact our OTC desk team today to create your account.

“At EZO, our vision is to create a world where financial services are accessible to all, regardless of geographical location or economic status. We envision a future where individuals and businesses have the tools they need to manage their finances efficiently and securely, empowering them to achieve their financial goals with ease. ” — Jeff Matte, COO

Data from The Global Findex Database 2025

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Frequently Asked Questions

What is the Global Findex Database 2025?

It’s a World Bank survey covering 140 economies that tracks how adults pay, save, borrow, and manage money, with updated data through 2024, published in 2025.

How financially included is sub-Saharan Africa?

Median account ownership is about 57%, with significant variation across countries and large gaps by gender, income, education and location.

How widespread is mobile phone ownership in the region?

Around 76% of adults own a mobile phone, though smartphone ownership is much lower among the poorest populations.