Behavioral Change Tops Challenges for Mobile Money Use in West Africa

Friday, March 7, 2014

Despite a rise in mobile phone users and the introduction of mobile money offering across Africa more than four years ago, the use of mobile money services in West Africa is still relatively low, industry insiders say.

There are several factors — mainly cultural — slowing down growth of mobile money services in West Africa, according to Daniel Osei-Antwi, the managing director of Splash Money, the only m-money service provider in Sierra Leone.

Source: PC Adivsor (link opens in a new window)

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digital payments, financial inclusion, mobile finance, mobile money