A Reserve Bank of Malawi National Payment Systems report is revealing that mobile money service usage dropped in the second quarter despite operators registering an increased subscriber base during the period.
According to the report, activity dropped because many subscribers only used the mobile money transfer platforms for specific purposes, such as the social cash transfer programme.
The development suggests a slowdown in usage as the activity rate for mobile money subscribers dropped to 56.1 % in June from 73.3% in March.
This level is the lowest since the first quarter of 2020 when activity rate stood at 52.4 %.
An economic analyst at the Malawi University of Business and Applied Sciences, Betchani Tchereni, suggests that removal of various barriers like charges and cost of gadgets to promote usage.