Despite a global decrease in informal economic activity, shadow economies still make up a significant portion of GDP in parts of Africa and South Asia. A new data from the Ernst & Young Global Shadow Economy Report 2025 reveals that Sierra Leone, Niger, and Nepal top this list, measured as a percentage of their national GDP.

Mobile phones have evolved far beyond their original function in today's rapidly digitising world. These devices now serve as their primary connection to financial services for millions, especially across parts of Africa and Southeast Asia.

Despite rapid advances in fintech and mobile money platforms, financial access remains out of reach for hundreds of millions, especially in developing nations.