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Will West Africa be the New East Africa in Mobile Money?: Shifting regulations and a growing ecosystem make the region an area to watch
Though the member countries in the West African Economic and Monetary Union share one currency and one central bank, their mobile money ecosystems differ greatly. However, interoperability will likely be integrated across most of these countries in the not too distant future. Could its new regulatory regimes and developing ecosystems help the region take its place alongside the mobile money sprinters of East Africa?
- Categories
- Technology
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Fast Lane to the Future: Three ways the ‘leapfrog effect’ is transforming developing countries – and revolutionizing finance
The “leapfrog effect” refers to the phenomenon, in fast-growing emerging economies, of technological advances permitting shortcuts in infrastructure building. This saves considerable time and money – and can deliver quick results that took more developed countries decades to attain. Here are three ways the leapfrog effect is reshaping economies – and finance – in the developing world.
- Categories
- Technology
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Mobile Communications Helping Humanitarian Organizations in Tanzania
Tanzania's rapid uptake of mobile phones and massive investment in rural network coverage is helping disaster and humanitarian organisations in the country speedily disseminate and collect information.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Smaller Players Challenge Telcos for Piece of Kenya’s Mobile Money Market
Kenya’s mobile money transfer market is headed for interesting times, with the latest results from the regulator showing small ‘outlier’ firms eating into the market dominated by the well-established players.
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- Technology
- Region
- Sub-Saharan Africa
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Mobile Phone Usage to Drive Africa’s Economy
Information communication technologists are optimistic that mass mobile phone usage launched in Africa, will drive the continent’s economy and make the millennial generation to become the leading tellers of the emerging app economy.
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- Technology
- Region
- Sub-Saharan Africa
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Safaricom Won’t Let Rivals Share M-Pesa
Safaricom has maintained it will not allow its mobile money platform, M-Pesa, to be spun off from the parent company, citing security risks for subscribers due to lack of clear guidelines and standards on cross-network cash transfers.
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- Technology
- Region
- Sub-Saharan Africa
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Transactions By Digital Wallets Up Three Times Between February and April
Digital wallets, which allow consumers to pay for purchases through devices such as mobile phones, are becoming popular, if an almost three-fold surge in the number of such transactions recorded between February and April this year is any indication.
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- Technology
- Region
- South Asia
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Financing Agribusinesses in Africa: Mobile Money Shows More Viability
As a result of mobile money financing schemes, farming businesses, most of which are in rural areas in Africa are able to enjoy agritrade financing in form of loans, subsidies and free inputs facilitated mainly through phones. The main advantage of mobile money financing for agriculture is the elimination of cash handling by other individuals during the transfer of the money from the financing individual/organisation to the farmer or agribusiness operator. This reduces or eliminates corruption, outright theft or violence that could result when individuals have to carry cash around.
- Categories
- Agriculture, Technology
- Region
- Sub-Saharan Africa
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