📶 Connecting the Dots: The Quiet Surge of the Digital Economy, 2020–2024

In the span of just four years, internet access in this unnamed economy has leapt from 91.7 to 110.3 subscribers per 100 inhabitants, marking a 20.2% increase and crossing the symbolic threshold of universal penetration by 2023. This expansion in internet connectivity—spanning both wireless and fixed broadband—signals a deeper transformation in how the population communicates, transacts, and consumes information.

What began as a high baseline has evolved into a near-saturation point.

In 2020, already 9 in 10 citizens had access to the internet; by 2024, the number exceeded one device per person. In comparative terms, such a leap puts the country in the upper tier of digitally connected societies, suggesting robust infrastructure investment and aggressive telecoms competition.

Let's chart this growth:

The Mobile Plateau—and a Modest Resurgence

Mobile phone subscriptions per 100 people—once the workhorse of digital inclusion—grew more modestly. Rising from 126.85 in 2020 to 136.14 in 2024, the figure reflects market maturity more than innovation. At a mere 7.3% increase over four years, the growth curve flattened, even dipping slightly in 2022 and 2023 before bouncing back in 2024.

This plateau points to saturation. With more subscriptions than people since 2020, the market appears to be cycling through phases of churn, operator switching, and SIM consolidation. The 2024 uptick may suggest renewed demand from IoT applications or bundled data services rather than new human users.

Fintech’s Ascension

Arguably the most dynamic story lies in mobile money subscriptions, which surged from 67.05 to 80.69 per 100 inhabitants, a 20.3% rise over the period. Though less dramatic in absolute numbers than internet subscriptions, this growth is more telling.

Between 2020 and 2022, the trajectory was upward and steady, climbing to 76.34 by 2022. The slight dip in 2023—possibly due to regulatory shifts or market consolidation—did little to dent the broader trend. By 2024, the rebound to 80.69 reaffirms mobile money’s entrenchment in the economic mainstream.

Where once it was a tool for the unbanked, mobile money is now part of the financial fabric, enabling everything from micro-savings to cross-border transfers. That 4 in 5 citizens hold a mobile money account hints at the transformation of informal cash-based economies into digitally tracked ecosystems.

The Broader Context

When placed against global trends, the data paints a picture of a digitally advancing society that is entering a new phase. The focus is no longer just on access, but on usage, reliability, and digital integration across sectors.

1. Internet growth is no longer about first-time users but about multi-device ownership and always-on connectivity.

2. Mobile subscriptions now measure device ecosystems—phones, wearables, IoT devices—rather than just people.

3. Mobile money is evolving into a proxy for financial inclusion, small business digitization, and informal sector uplift.

   
   

Final Word

Between 2020 and 2024, the digital indicators show more than numerical growth—they chronicle a structural transformation. While the internet connected people, mobile money connected them economically. And despite a mature mobile phone market, new use-cases continue to emerge, pushing boundaries.

If this momentum holds, the next chapter won’t just be about connecting the society—it will be about digitally empowering it.