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In a recent study conducted by KPMG, the West African banking industry’s customer experience survey showcased a notable advancement in the payment systems across the region. Nigeria emerges at the forefront, boasting a 70% usage rate of mobile banking apps, while Ghana follows closely behind at 53%.
This comprehensive research, marking KPMG West Africa’s inaugural combined customer analysis, delved into the 17th consecutive edition in Nigeria and the 4th in Ghana. It highlights diverse consumer behaviors, emphasizing the accelerating trend of digital adoption and unique local nuances within each market.
The survey findings indicate a significant surge in mobile banking app usage in both countries. In Nigeria, a remarkable 70% of customers engage with their banking apps at least once a week, marking an increase from 55% in 2022. Moreover, 63% of Nigerian customers frequent agency banking locations for their transactions on a weekly basis.
Meanwhile, Ghana reports 53% of customers utilizing their mobile banking apps weekly, slightly up from 50% in the previous year. However, mobile money usage in Ghana experienced a slight dip, with 66% of customers engaging weekly, down from 69% in 2022.
The study also sheds light on the customer experience in both markets. Nigeria’s retail banking sector witnessed a notable improvement, with a rise of over three percentage points compared to the past five years, while Ghana’s retail segment saw a four-percentage-point boost this year.
