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Mobile money is transforming financial access in Tanzania
Tanzania had envisioned through the National Financial Inclusion Framework of 2011 to have 50 per cent of the adult population having access to financial services by 2016, but it has so far managed to surpass the target, according to a recently released FinScope Tanzania 2013 report.
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Cashing in: why mobile banking is good for people and profit
Using digital finance to tackle development problems can improves lives, and offer innovative companies handsome rewards.
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Bitcoin: The Indestructible Currency?
Bitcoin is independent, and it is designed to be anti-inflationary. There will only ever be 21 million Bitcoins in existence, and users obtain Bitcoins by ‘mining’ them through running algorithmsto unlock the coins – or by exchanging conventional money for Bitcoins.
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- digital payments
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Mobile Money Security is Kenya’s Next Big Challenge
Attention needs to be paid to the security of mobile money systems in Kenya especially with the licensing of three virtual network operators in the country, say experts.
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- Sub-Saharan Africa
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MTN, Airtel Announce Cross Border Remittance Deal in West Africa
The partnership will allow MTN customers in Ivory Coast and Airtel customers in Burkina Faso to transfer money between the neighboring countries.
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- Sub-Saharan Africa
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Planting the Seeds of Digital Finance: Part 2 of our Digital Finance Plus series discusses why agriculture is key to building the mobile money ecosystem
Agriculture-focused payment solutions could and should have a unique role in the growth of digital finance, says Lee Babcock. Their ability to facilitate income streams to low-income families provides a powerful incentive for their adoption, and they could help extend the ecosystem to rural customers. So why aren’t more mobile money platforms tapping this potential?
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- Agriculture
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Digital-payment revenue in sub-Saharan Africa expected to soar
Electronic-payments revenue in sub-Saharan Africa (SSA) could reach up to $16 billion annually in the next few years if the growth of mobile payments in Kenya is repeated across the continent, according to a recent study by McKinsey and the Gates Foundation.
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Making Mobile Money More Effective in Nigeria
A recent survey that showed that 37 per cent of Nigerians are not aware of mobile money and as such, do not use the payment platform, is worrisome. According to the report by Philip Consulting, out of the remaining 63 per cent respondents that knew about mobile money, 31 per cent were between the ages of 26 and 35 and constituted the majority.
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