no access to formal financial services or even a traditional bank account. At 85% penetration, mobile phones have become an important element of daily life. While text messaging is most popular, mobile commerce – at 43 percent penetration of mobile users – is redefining the way Kenyans perform transactions leading to a notable shift in
AFRRI report looks at eight countries from Sub-Saharan Africa, comparing various metrics to determine the maturity of the current financial services in each country, and highlighting areas of opportunity for formal retail banking. Produced by Calleo, a South African based marketing consultancy, in consultation with iVeri Payment Technologies, Africa’s leading payment solution provider, the report
Government Partnerships: Vodafone has entered into a partnership with the Ministry of Social Development in Lesotho to pay welfare grants using M-Pesa. Kenya’s Ministry of Agriculture is now paying fertilizer subsidies using M-Pesa. In India, the National Rural Livelihoods Mission utilises M-Pesa to enable financial inclusion for women’s groups and the National Rural Health Mission
