The fourth report in the Africa Digital Banking Experience Series makes clear that mobile banking has moved from the margins to the mainstream of Africa's financial system. Drawing on a survey of senior banking executives across 40 countries, the study shows that as mobile penetration rises and smartphones become more affordable, the handset has become the most important gateway to financial services. For millions of Africans, banking now begins and often ends on a mobile device, reshaping how banks design products, engage customers and compete in an increasingly crowded digital marketplace.
According to the report, mobile banking adoption in Africa is high by global standards. Physical bank branches remain scarce in many rural areas and even in some low-income urban districts, while limited fixed broadband infrastructure constrains access to web-based services. As a result, mobile phones account for at least three quarters of all online traffic on the continent. Banks responding to the survey overwhelmingly report that this reality has pushed them towards mobile first strategies, developing applications designed primarily for handsets rather than adapting desktop platforms.
Regulatory change has reinforced this shift. The report notes that reforms in many markets have opened the door to greater competition in payments and digital finance, enabling non-bank providers to challenge traditional institutions more directly. Faced with pressure from fintech firms, mobile money operators and telecoms companies, banks are increasingly placing mobile apps at the centre of their digital strategies. What began as a supplementary channel has become the main interface between banks and their customers.
