Custom Search


Cellphone transforms Africans’ financial life

In Business posted by TD Staff

Mobile banking, powered by cellphones, is allowing people who could never afford traditional bank accounts to send, receive and save money, often just by writing text messages.

Click on image for full article

Click on image for full article

Cheap and efficient m-banking services are cropping up from South Africa to Senegal.

They’re the latest example of how the cellphone has transformed life in sub-Saharan Africa, where over the past decade mass-market mobile networks have stitched together countries and families long separated by distance, poverty and shoddy infrastructure.

Less than one-fifth of Africans have bank accounts, and far fewer access the Internet.

The continent, however, recently surpassed the United States and Canada with 340 million cellphone users and is adding 70 million more each year, according to Wireless Intelligence, a market-research group.



Related posts:

  1. South Africans are outraged at Canadian decision to grant man refugee status because he is white Canada has said it will ask its Federal Court to...
  2. Mobiles offer lifelines in Africa If you want to see how east Africa may respond...
  3. The more than one million Africans who fought in WWII The 70th anniversary of World War II is being commemorated...
  4. African gene trawl may provide secrets to long life A genetic peek deep into the heart of Africa confirms...
  5. Bill Gates offers $10m fund for mobile banking in Haiti Alongside the billions of pounds worth of aid being pumped...

Have an opinion? »

We welcome your comments.

We welcome your comments

 

Positive, inspirational & motivational Black news. Updated several times daily. Add to Google Reader or Homepage Add to My AOL

© 2006-2010 Todays Drum LLC. All Rights Reserved.
Powered by WordPress. Design by MJA Web Design