Where Mobile Money Matters
This story originally appeared in our April 21, 2011 e-magazine. Click here to subscribe.
Mobile money has been heralded as one way to leapfrog traditional banking for those at the bottom of the pyramid. We look at five countries that have wholeheartedly embraced the technology.
1. Kenya
Not only does Vodafone’s Safaricom serve more than 12 million through its M-PESA system, Kenya is also home to three other mobile money providers. Organizations are utilizing this technology to help women plan for pregnancy expenses and help farmers secure crop insurance. At the end of 2010, US$400 million—29% of the country’s GDP—was travelling through the M-PESA system each month. According to the Mobile Money Exchange website, while only 10% of the country could access finance, nearly 60% had access to a cell phone. » Continue reading “Where Mobile Money Matters”



