Top 5 Finance Apps on Android in Nigeria Q1 2023

During the first quarter of 2023, the finance app landscape in Nigeria saw considerable activity. Here's a look at how the top five finance applications performed on the Android platform.

OPay - Cash rain , Airtime , Transfer , Savings showed impressive growth in weekly downloads, starting from around 166K and peaking at over 213K by the end of March. Weekly active users also increased steadily, beginning at approximately 791K and reaching over 1.06M by the end of the quarter.

OPay Business experienced a notable rise in weekly downloads, starting at around 11K and climbing to nearly 119K by mid-March, before stabilizing at around 65K by the end of the quarter. Weekly active users mirrored this growth, starting at about 87K and peaking at around 247K.

PalmPay - Transfers, Bills also saw an upward trend in weekly downloads, beginning at approximately 71K and reaching a high of around 152K by mid-March. Weekly active users increased from roughly 613K to over 902K by the end of March, showcasing consistent growth throughout the quarter.

EaseMoni—Instant loan online experienced fluctuations in weekly downloads, starting at around 79K, peaking at about 87K, and ending the quarter at approximately 68K. Weekly active users showed a steady increase, starting at around 213K and peaking at nearly 289K by mid-March before slightly decreasing to around 268K by the end of the quarter.

Finally, UBA Mobile Banking saw a significant peak in weekly downloads at around 111K in late January, before tapering off to approximately 22K by the end of March. Weekly active users showed a similar trend, starting at around 425K and peaking at about 581K before declining to approximately 454K by the end of the quarter.

These insights are based on data from Sensor Tower, where you can find more detailed analytics and trends.