African telecoms operators believe that almost half of all African mobile subscribers will use mobile financial services (MFS) by 2029, and MFS transaction values in the region will grow by 114% in the next five years.

That’s according to a new report from Ericsson and Juniper Research, titled: “What Will Drive Mobile Financial Services’ Growth?” which suggests that Africa is poised to have the largest MFS growth globally due to rising affluence in the countries involved and a shift to advanced services.