January 14 2014 |
Financial Services,
Technology
Mobile-money: the route to the African consumer
With a growing middle class and a population that is moving into the cities, Africa is on a positive growth trajectory. According to the African Development Bank, African consumers will spend about US$2.2tr annually by 2030. Africa is ushering in positive indicators across the board. The challenge is how to reach this growing demand in a continent where not everyone has access to financial services, rural areas are still highly populated and the costs of expanding ATMs and bank branches to remote rural areas are prohibitive. (more…)