GSMA’s Estimation of the Impacts of High Mobile Money Adoption in Ethiopia by 2030

The results of a long-term impact study on a mobile money service in Kenya, M-PESA, found mobile money has lifted as many as 194,000 households—2% of the Kenyan population—out of poverty and has been effective in improving the economic lives of poor women and of members of female-headed households. While Ethiopia has not achieved such figures yet other studies also predict a similar impact in the future if there is mass adoption of mobile money in the country. A 2023 report by GSMA estimates that mobile money has the potential to contribute $5.3 billion to Ethiopia’s GDP. According to the report, if mobile money achieves a high adoption rate with 60% of Ethiopian adults as users by 2030, it could help lift 700,000 people out of extreme poverty, add $5.3 billion to the country’s GDP, increase tax revenue by $300 million, and provide a safety net for nearly 40% of Ethiopian households during economic shocks.