Fact of the Day: Africa is the #1 region in the world for mobile money transactions

The number of smartphones in Africa is expected to grow by over 40 percent this year and to double to pass 350 million units by 2017, according to research from Deloitte.

‘The market is stimulated by strong growth in African economies and catalysed by the arrival of low-cost smartphones that are democratising internet access,’ writes Deloitte francophone Africa executive Karim Koundi. He calculates that the smartphone market will grow by more than 40 percent this year, with 70 million units being sold across the continent.

Read more: Africa accounts for 52% of world m-payments transactions – Telecompaper.