Reserve Bank of Malawi (RBM) National Payment System 2019 First Quarter Report has shown that there has been a drop in the use of mobile money services.

Figures in the report show that 39.7% in the first quarter of 2019, compared to 41.1% recorded during the fourth quarter of 2018.

According to the RBM report, the drop is because customers have not fully embraced this service for day to day transactions for payment of goods and services, for instance at merchant shops and for utility bills.

The report also shows an alarming drop in mobile money agents; while the last quarter of 2018 showed that active agents were at 71.2%, while the first quarter of 2019 recorded 59.3% of the active agents. Distribution of mobile money services still favor urban areas, which means almost 70% of subscribers cannot access the services, as 74.1% of mobile money agents are located in urban and semi-urban areas, with only 25.9% located in rural areas.