Payments and Money Transfer Behavior of Sub-Saharan Africans

This study offers an in-depth look at the payment behavior of Sub-Saharan Africans based on survey results from 11 African nations. It focuses on the payment behavior of the poorest parts of the population and those living in rural areas. The study leverages Gallup's worldwide research initiative to better understand the payment behavior of Sub-Saharan Africans. Gallup conducted the surveys from June to October 2011. Questions covered respondents payment behaviors through services such as money transfers, international remittances, wage payments, utilities, and other bills. Findings include:

• Market for financial services in Sub-Saharan Africa is significant and remains largely untapped;
• Rate of domestic remittances in most countries dwarfs that of international remittances;
• Non-remittance flows such as formal obligations are less widespread than transactions of domestic remittances;
• Channels through which non-cash transactions flow vary significantly by country;
• Recipients of remittances comprised affluent and poor as well as residents of rural and urban areas in nearly equal ratios;
• Introduction or extension of mobile phone transfer systems have the potential to simplify the lives of Sub-Saharan Africans.