Here is how many deposits made via mobile financial services in Benin totaled

In Benin, mobile financial services recorded 2,911.23 billion CFA francs in deposits during 2024, according to data from ARCEP-Benin.

Deposits made via mobile financial services in Benin totaled 2,911.23 billion CFA francs in 2024, a decrease of 15.13% compared to the previous year.

The volumes of cash deposit and withdrawal operations recorded with the three mobile financial service providers (MTN MOBILE MONEY, MOOV MONEY and CELTIIS CASH) are respectively estimated at 272.24 million and 242.55 million in 2024.

According to Arcep Benin's 2024 annual activity report, these electronic wallet reloading and cash withdrawal operations are respectively up 19.35% and 12.51% compared to 2023, and represent respectively 10.8% and 9.7% of the overall volume of transactions recorded in 2024.

"Transactions carried out via mobile telephony in Benin relate to money deposits and withdrawals, telephone credit purchases, push and pull transfers, salary payments, merchant payments, P2P transfers, P2C transfers and international transfers inbound and outbound".

"The transaction volume of mobile financial services is estimated at 2,512 million transactions in 2024, representing a daily average of 6.88 million transactions. Compared to 2023 data, this indicator grew by 21.15%.

This volume is made up of 99.5% national transfers and 0.5% international transfers.

Turnover and market share

The turnover of mobile financial service providers is estimated at 64.2 billion CFA francs as of December 31, 2024. This turnover increased by 22% compared to 2023.

This market value of mobile financial services is distributed between operators with 85.4% for MTN MOBILE MONEY, 13.2% for MOOV MONEY and CELTIIS CASH 1.4%.

24 HOURS IN BENIN