According to the Agency for Regulation and Control of Telecommunications (ARCT), Burundi has gained an additional 2.3 million active mobile money subscriptions in one year.
The number of mobile payment users in Burundi, a country of less than 14 million people, has surged by 140% from 2019 to 2023. During this period, the total number of mobile money subscriptions increased from 4.1 million to 6.9 million.
"The capacity of mobile technologies has exponentially improved people's lives and increased the number of users of mobile financial services, thanks to the development of digital connectivity. Currently, people without bank accounts can facilitate monetary transactions through their mobile phones," states the ARCT.
As of December 31, 2023, Burundi had 8.6 million mobile phone subscriptions, with a penetration rate of 66%, specifies the Agency for Regulation and Control of Telecommunications. These figures show a significant improvement from the previous year, where the penetration rate was only 57%. The rapid expansion of the mobile phone network has enabled a greater number of Burundians to access mobile financial services, thus contributing to financial inclusion in the country.
Experts attribute this growth to several factors, including the increased accessibility and affordability of smartphones, as well as improved network coverage in previously isolated areas. Additionally, the government and telecommunications operators have implemented policies that promote the use of mobile devices for financial transactions, which has encouraged more citizens to adopt these technologies.
The impact of this transition to mobile payments is visible in several sectors, including commerce, where merchants and small businesses can now conduct transactions without the need to handle cash. Moreover, it has facilitated the payment of public services and taxes, thus improving the efficiency of government collections.
However, despite these advancements, there are still challenges to be addressed to maximize the benefits of mobile payments. Awareness of the security of digital transactions remains low, exposing users to fraud risks. Furthermore, there is a regional disparity in service access, with rural areas being less well served compared to urban areas.
