Mobile money reaches P26bn :: Mmegi Online

The value of transactions conducted through mobile money reached P26.5 billion in the year to March 2023, up nearly 30% from the previous corresponding period, as more consumers signed up for the services.

Data made available by the Botswana Communications Regulatory Authority (BOCRA) shows that mobile money subscriptions reached 1.69 million as at March 2023, from 1.66 million in March 2022 and 1.15 million in March 2019.

Orange, whose Orange Money product has traditionally enjoyed the lion’s share of the market, slipped in dominance in the year to March 2023, with a 49% market share, from 59% in the year to March 2022. Mascom, which has the MyZaka product, grew its market share over the same period to 38% from 36%, while BTC’s Smega moved from a nine percent market share to 11%. Botswana Post’s mobile money product remained at two percent market share over the same period.

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