Top 5 Finance Apps in Africa Q2 2022 Performance Review

In the second quarter of 2022, the top 5 finance applications in Africa showcased notable trends in weekly downloads and active users on a unified platform. Here’s a closer look at the performance of Capitec Bank, Lucky ONE, PalmPay - Transfers, Bills, Kuda - Free transfer & payment, and M-PESA.

Capitec Bank experienced fluctuations in weekly downloads, peaking at around 128K in the weeks of April 25 and June 20. However, the app saw a decline towards the end of June, with downloads dropping to approximately 71K. Active users showed a mixed trend, starting at 2.87M in late March and peaking at over 3M by the end of June.

Lucky ONE observed a steady increase in weekly downloads, reaching a high of around 131K in early May. Active users also followed an upward trend, beginning at 236K in late March and peaking at approximately 347K by mid-June.

PalmPay - Transfers, Bills saw significant growth in downloads, particularly in June, where weekly downloads surged to over 117K. Active users also increased steadily, from 564K in late March to approximately 740K by the end of June.

Kuda - Free transfer & payment had varied weekly downloads, peaking at around 115K in late May. Active users demonstrated growth, starting at 659K in late March and reaching about 815K by the end of May, before stabilizing around 738K in late June.

M-PESA recorded a remarkable rise in downloads, particularly in June, with peaks of approximately 178K. Active users consistently increased, starting at around 2.99M in late March and peaking at roughly 3.43M in mid-June.

These insights are based on data from Sensor Tower. For more in-depth analysis and trends, visit Sensor Tower.