Episode 024: Mobile Money and Banking in Africa

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Following on from yesterday’s topic of Africa and technology, I figured it would be good to touch on what I think is one of the big tech wins for Africa and that is mobile money services like Mpesa.

The IMF has a report from 2014 that looks at the penetration of various financial services in the different regions globally. You can find it here.

Lets look at Mobile Money in Africa

Mpesa, the mobile money service launched by Safaricom in 2007, is by far the biggest player on the continent in the mobile money space. Many have tried to migrate it to other markets but in South Africa for example, Mpesa has failed twice.

You can find the CNN report on Mpesa here.

(Catch yesterday’s episode of the podcast here.)