AI Insights · Timothy · October 2022
Top 5 Finance Apps in Nigeria Q3 2022: Unified Platform Performance
Discover the performance of the top 5 finance apps in Nigeria during Q3 2022, including trends in downloads and active users.
During the third quarter of 2022, the top five finance applications in Nigeria showed varied performance metrics across downloads and active users on both iOS and Android platforms. Here’s an in-depth look at how these apps fared.
The PalmPay - Transfers, Bills app saw a peak in weekly downloads at around 145.5K during the week of July 25. However, this number gradually declined over the quarter, ending at approximately 61.9K by the last week of September. The app maintained a stable number of weekly active users, starting at 735.7K and finishing the quarter at around 715.6K.
For OPay - Cash rain , Airtime , Transfer , Savings, weekly downloads peaked in the first week of August with about 142.7K downloads, before seeing a general decline, closing the quarter at roughly 64.2K. The app's weekly active users saw an increase from 646.8K at the end of June to around 660.9K by the end of September.
Chipper Cash experienced a notable peak in weekly downloads during mid-August with approximately 131.5K downloads. This was followed by a decline, ending the quarter with around 39.1K downloads. Weekly active users also saw a significant rise mid-quarter, peaking at 159.6K in mid-August, before stabilizing at around 79.9K by the end of September.
The FairMoney—Instant loans & more from a digital bank app maintained a consistent download rate throughout the quarter, starting at 51.1K and ending at approximately 36.7K. The number of weekly active users showed a steady trend, starting at 530.8K and slightly dropping to about 481.5K by the end of the third quarter.
Lastly, Kuda - Transfers and payments saw weekly downloads peaking in late June at around 55.9K, with numbers generally stabilizing around 42K towards the end of the quarter. The app maintained a robust number of weekly active users, starting at 736.7K and ending at approximately 756.5K.
These insights are brought to you by Sensor Tower. For more detailed analytics and trends, visit Sensor Tower.
