April 3

Coronavirus Seen as Trigger for Mobile Money Growth in West Africa

By Nellie Peyton

Penda Kande usually pays for taxis in cash, but since coronavirus hit Senegal, the 30-year-old nurse has switched to mobile money to avoid contamination.

“With the virus it’s better to use Orange Money,” said Kande, referring to the West African country’s most popular mobile money service, offered by French telecoms group Orange

She was one of several clients making withdrawals or deposits with mobile money agents on a street corner in Senegal’s capital Dakar last week, where one Orange Money agent said business had nearly doubled since coronavirus hit.

Photo courtesy of Institute for Money, Technology and Financial Inclusion.

Source: Reuters (link opens in a new window)

Coronavirus, Finance
fintech, telecommunications