Introduction to Mobile-First Businesses
Innovation in emerging markets is increasingly built around mobile-first strategies. Countries with limited fixed broadband infrastructure and underdeveloped traditional banking systems are relying on mobile devices as the gateway to economic participation. In Nigeria, smartphone penetration has gone above 60%, and mobile phones are the primary point of access for services, from payments to healthcare.
The Rise of Mobile Money
According to GSMA’s State of the Industry Report on Mobile Money 2025, Sub-Saharan Africa remains the fastest-growing region, accounting for more than two-thirds of the world’s registered mobile money accounts and driving much of the growth in active usage. Globally, there were 514 million monthly active accounts in 2024. This lets entrepreneurs bypass legacy infrastructure and build services directly on mobile. In developed markets, it’s a convenience, but in developing markets, it’s a necessity.
Solving Real-World Problems
In regions where traditional banking is underdeveloped, mobile-first businesses solve access, affordability, and trust problems. Nigeria’s Airtel mobile money unit processed ₦20.71 trillion in Q1 2025, reflecting the surge in mobile channels for everyday payments. Consumers previously excluded from formal finance can now save, transfer, and spend money through their phones.
Beyond Finance
We see this pattern echoed in other sectors that have learned to operate within restrictions. Digital platforms built on privacy, flexibility, and cross-border reach manage to thrive, a trend mirrored by online services that offer players robust security measures, swift and secure payouts, and diverse options that are easily accessible through mobile devices.
Expanding Financial Inclusion
One of the biggest impacts of mobile-first businesses in emerging markets is the way they expand financial inclusion and make it possible for people to pay bills online. Nigeria’s Central Bank and fintech companies are targeting tens of millions of unbanked citizens through mobile wallets and a simplified onboarding process. Mobile wallets provide loans and insurance and allow users to pay bills, and they have since amassed millions of users. Mobile-first platforms evolve into full-service ecosystems, showing how mobile-first design can cut through crowded markets.
Regulatory Responses
Rapid expansion has prompted regulatory responses across the continent. Nigeria’s Federal Competition & Consumer Protection Commission introduced new digital lending regulations in July 2025, establishing clearer rules for interest rates, disclosures, and customer protection. The Central Bank of Nigeria has tightened KYC requirements for mobile money operators while increasing oversight of aggregators and payment service providers.
Balancing Innovation and Oversight
The rules are intended to protect consumers and foster innovation, but they leave startups mired in compliance. Regulation represents both an obstacle and a route to growth in these markets. Supportive frameworks like India’s Unified Payments Interface or Brazil’s Pix system have accelerated adoption by reducing transaction costs and standardising access. Africa’s task is to balance rapid innovation with steady oversight as mobile-first companies cut across telecoms, finance, and digital services.
Success Stories
Kenya’s M-Pesa remains the archetypal mobile-first success story, bringing millions into the formal financial system and inspiring a generation of fintech companies. Nigeria has produced its own champions, showing how mobile-first design can cut through crowded markets and grow into a platform trusted by shops and households alike.
Beyond Finance: Healthcare and Education
Beyond finance, mobile-first approaches are transforming healthcare and education. Startups in Nigeria and Ghana are developing telemedicine platforms optimised for low-bandwidth mobile access. EdTech companies use mobile delivery to reach students in rural areas.
Conclusion
Africa’s mobile money market will grow 19% a year to 2033, and healthtech, edtech, and e-commerce will grow fast on mobile adoption. Mobile-first cuts entry barriers and fits consumer habits where smartphones rule, investors are keen on fintechs and digital platforms. The challenge will be to keep the momentum going with expensive data and patchy connectivity, but the direction is clear: mobile-first businesses are filling the gaps and setting the model for growth in resource-poor markets.
