Posts by Mike McCaffrey and Annabel Lee
NB Financial Health
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Failure to Launch: Why mobile money hasn’t taken off in Nigeria – and how the sector can turn things around
In contrast to other African countries, Nigeria’s digital finance sector has yet to take off, with one survey finding that just 0.01 percent of Nigerians have a mobile money account. Critics suggest the lack of progress is due to banks rather than telecoms leading the charge. But research from the Helix Institute of Digital Finance suggests that other factors may be responsible - and points toward some solutions.