Top 5 Finance Apps on Android in Africa - Q1 2023

In Q1 2023, the top finance apps on the Android platform in Africa exhibited notable trends in weekly downloads and active users. Here’s a closer look at their performance:

OPay - Cash rain , Airtime , Transfer , Savings saw a significant increase in weekly downloads, starting at 166K in late December and reaching 214K by the end of March. Active users also rose steadily, from 750K at the beginning of January to over 1M by the end of the quarter.

InstaPay Egypt had a fluctuating download trend, peaking at 376K in late December and stabilizing around 85K to 146K weekly downloads throughout the quarter. Active users increased from 334K in late December to nearly 492K by the end of March.

PalmPay - Transfers, Bills experienced consistent growth in downloads, starting at 71K in late December and reaching 153K by mid-March. Active users followed a similar upward trend, increasing from 614K to approximately 903K over the quarter.

RapidCedi-Credit cash loan had varied download numbers, peaking at nearly 300K in mid-January but then fluctuating between 14K and 48K through the rest of the quarter. Active users showed a peak at 372K in late January, followed by a steady count around 234K to 290K.

NewLoan displayed a strong start with 345K downloads in late January, though this number settled between 33K and 53K in the following weeks. The active user base grew from 150K in late December to a high of 407K in late January, then maintained a range of 240K to 296K towards the end of March.

These insights are based on data from Sensor Tower, where more detailed information can be found.