WAEMU Reports 284 Million E-Money Accounts in 2025
Data from the BCEAO shows high registration numbers despite varying activity rates across the West African region.
Updated on Oct. 22, 2026 in Financial Services
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The WAEMU region recorded 284.8 million registered e-money accounts in 2025, according to the BCEAO. Despite this growth from 248.7 million in 2024, the regional activity rate for these accounts stood at 32.56%.
Why it matters
Understanding account activity rates is critical for assessing the actual usage and depth of digital financial inclusion across the WAEMU nations. The data highlights a significant gap in service utilization between countries with varying levels of digital infrastructure.
The region reached a total transaction value of CFA 219,151 billion, equivalent to $395 billion, through 16.4 billion individual transactions. The distribution network expanded to 1.45 million active service points.
The players
BCEAO
The Central Bank of West African States serves as the primary regulatory and oversight authority for the banking and financial systems of the WAEMU member nations.
WAEMU
The West African Economic and Monetary Union is a regional organization that promotes economic integration among eight member countries that share the West African CFA franc.
The details
The BCEAO defines an active account as one that has completed at least one transaction within the previous 90 days. National activity levels varied significantly, with Guinea-Bissau reporting the highest rate at 60.67% and Niger recording the lowest at 10.85%.
Timeline
The regional activity rate was 41.58% in 2022.
The region had 248.7 million registered e-money accounts in 2024.
Total registered e-money accounts reached 284.8 million in 2025.
The BCEAO published the 2025 Financial Inclusion Dashboard on October 20, 2026.
Market Landscape
This data update follows the reporting framework established by the BCEAO Financial Inclusion Dashboard. It demonstrates the continued expansion of digital distribution networks as financial institutions compete for market share in the growing West African e-money sector.
Users in countries with higher activity rates like Guinea-Bissau likely face fewer barriers to local digital payments. In contrast, residents in regions with lower usage may find limited access to reliable service points for completing their daily transactions.
The takeaway
The rise in registered accounts suggests a growing interest in digital finance, but the declining activity rate indicates a need for improved usability. Users should verify local service availability as regional infrastructure maturity varies significantly.
Further reading
For more on regional trends, visit our Financial Services section.
Source note: This article includes information reported by Ecofin Agency.
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