Mobile banking on the rise in Africa

August 12th, 2008 • Africa, Development

Here’s a real interesting read on mobile banking in South Africa and Kenya. Mobile telephone companies and banks are teaming up to provide targeted financial services to the poor. For example, money can be sent via SMS, and cashed out at a mobile operator. This avoids the need for a bank account and in a country where 60% of people don’t use banks this creates whole new opportunities for a vast range of people.

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Tags: Africa, banking, Kenya, mobile, south-africa

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