M-Pesa: when “mobile money” revolutionizes banking in Africa
Did you know… that paying for a taxi ride with your mobile phone is easier in Nairobi than in Athens?
Did you know… that the continent with fastest growth in “mobile money” is Africa, a continent (too) often regarded as lagging behind the rest of the world?
Of the top twenty countries for mobile money usage, fifteen are indeed in Africa[1]. In 2012, the continent’s mobile market was worth more than $50 billion, i.e. more than the total money sent via mobile in both Europe and North America[2]. M-Pesa, Kenya’s world-leading mobile-money system, played a massive role in this success.