Security: Trusted for large transactions, especially in business contexts, due to enhanced traceability and reliability.

Integration with Formal Economy: Essential for payroll, supplier payments, and government services in Côte d’Ivoire’s formal sector.

Growing Digital Banking: The adoption of mobile banking apps by leading banks like Société Générale and Ecobank is making transfers more accessible to the urban population.

Increased Financial Inclusion: The rise in mobile money accounts from 24% in 2014 to 40% in 2021 reflects a significant improvement in financial inclusion, enabling more Ivorians to participate in the formal economy

Market Competition and Innovation: The entry of new players like Wave has intensified competition, leading to more affordable and innovative services. For instance, within two months of Wave's launch in April 2021, Orange's market share declined by 8.7%, indicating a dynamic and competitive market landscape

Regulatory Support: The Central Bank of West African States (BCEAO) issued regulations in 2015 that encouraged non-banks to issue e-money, setting the stage for a digital transformation in Côte d’Ivoire. Between 2014 and 2017, mobile money almost single-handedly drove a 20% increase in financial account ownership across the country