EAST Africa has lost its mantle as the engine of growth for Africa's dynamic mobile money sector to West Africa, according to GSMA State of the Industry Report (SOTIR) 2023. East Africa - where the continent's mobile money behemoth, M-PESA, is domiciled - boasted the highest activity rate in the region as recently as 2020 but it has since declined for two consecutive years. In contrast, West Africa's activity rates have risen consistently since 2018 and active mobile money accounts grew by 25% between 2021 and 2022. "Not only are more people registering for mobile money accounts, but many who…