Finance apps are leading Africa's mobile revolution, report shows
The growing demand for finance apps isn’t just about downloads.
Sub-Saharan Africa’s mobile market is expanding rapidly, with mobile subscriptions expected to surpass 1 billion by 2029, two-thirds of which will be smartphones. This growth is transforming how people across the region interact with technology, making mobile apps an essential part of daily life.
The 2024 “State of App Marketing in Sub-Saharan Africa”, a joint report by AppsFlyer and Google, reveals how this mobile-first shift is reshaping the digital economy, with finance apps leading the charge.
App installs across the region have surged, growing by 21% year-on-year in the first three quarters of 2024. Android remains dominant, with installs rising by 20% in Q3 compared to the same period in 2023, while iOS installs dipped by 14%.
As smartphone adoption continues to rise, so does consumer reliance on mobile apps to meet a variety of needs. Among these, finance apps have seen remarkable adoption, with installs climbing 23% during the first half of 2024 alone. By Q3, Android finance app installations were up 33% year-on-year, while iOS saw finance app installs double in the first quarter compared to 2023.
