Africa will Rule the World in Mobile Money, Expert Predicts

Tuesday, September 3, 2013

African countries like Nigeria, Kenya, and Tanzania have been predicted to rule the world in mobile money transactions, which include mobile banking and mobile wallet, in the next few years, going by the continent’s population and zeal for technology advancement.

Head, Marketing and Strategy at Ericsson, Mr. Shiletsi Makhofane, who made the prediction in Sweden, while unveiling the company’s Digital Agenda for Africa, advised banks and tele-communications operators in Africa to see the opportunities and take advantage of them to boost African technology development.

He also called on the banks and the telecommunications operators to invest in infrastructure that would help in leveraging on the opportunities to address the challenges of the unbanked across Africa.

Source: This Day Live (link opens in a new window)

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financial inclusion, financial innovation, mobile banking, mobile money