Top 5 Finance Apps on Android in Nigeria, Q4 2022

In the fourth quarter of 2022, the top five finance apps on the Android platform in Nigeria demonstrated varied performance, with notable trends in weekly downloads and active users. Below is an in-depth look at each app's performance, with data sourced from Sensor Tower.

OPay - Cash rain , Airtime , Transfer , Savings

This app saw a remarkable increase in weekly downloads, starting from around 49K at the end of September and surging to approximately 166K by the last week of December. Weekly active users also exhibited a consistent upward trend, growing from roughly 570K to 791K over the same period.

PalmPay - Transfers, Bills

Downloads for PalmPay fluctuated throughout the quarter, beginning at around 47K and peaking at approximately 81K in early December before stabilizing near 70K by the end of the year. Active users saw a slight dip initially, from 599K to 562K in mid-November, but recovered to approximately 613K by the last week of December.

OKash - Safe and reliable personal loan in Nigeria

OKash experienced a steady rise in downloads, starting at around 35K at the end of September and reaching about 54K by the end of December. Active users also increased, moving from approximately 122K to 147K during the quarter.

FairMoney—Instant loans & more from a digital bank

Weekly downloads for FairMoney showed a slight increase, beginning at around 37K and peaking at approximately 45K in late November before stabilizing near 36K by the end of December. Active users experienced minor fluctuations, starting at approximately 481K and ending the quarter at around 450K.

Palmcredit-Personal loan, Fast Cash, Instant loan

Palmcredit maintained a steady download rate, fluctuating between 32K and 37K throughout the quarter. Active users remained relatively stable, with numbers hovering around 148K by the end of December.

For more detailed insights into the performance of these apps and other market trends, visit Sensor Tower.