Top 5 Consumer Finance Apps in Africa Q3 2023 Performance

The third quarter of 2023 saw significant activity in the consumer finance app sector across Africa. Here’s a look at the performance of the top five apps on a unified platform, as reported by Sensor Tower.

Capitec Bank maintained a strong presence with consistent weekly downloads, peaking at approximately 173K in the last week of September. The app started the quarter with around 145K downloads and experienced fluctuations, hitting lows of about 77K in early August. Active users hovered around the 3M mark, with a slight dip to 2.9M in mid-July but eventually rising to over 3.2M by the end of the quarter.

Moniepoint Personal Banking, a relatively new entrant, saw a remarkable increase in downloads, starting from 2.7K in early August and reaching over 162K by the end of September. Active users followed a similar trend, growing from 1.5K in early August to nearly 229K by the end of the quarter.

BaridiMob showed steady growth in downloads, beginning the quarter at approximately 39K and rising to over 62K in late September. Active users also increased gradually, starting at 526K and peaking at 685K in mid-September before slightly dropping to 651K by the end of the month.

GTWorld experienced fluctuating download numbers, beginning the quarter at around 41K and peaking at 74K in mid-July. The app ended the quarter with approximately 44K downloads. Active users remained relatively stable, fluctuating around 670K throughout the quarter, with minor dips and peaks.

Moniepoint Business Banking also demonstrated robust performance, starting with around 39K downloads in late June and increasing to over 62K by the end of September. Active users saw steady growth from about 174K in late June to 267K by the end of the quarter.

These insights highlight the dynamic nature of the consumer finance app market in Africa. For more detailed analytics and insights, visit Sensor Tower.