What the iPhone did to stupid time-wasting games, M-Pesa can do to all kinds of financial services in Africa.
This McKinsey analysis shows revenue for mobile operators from phone-based payments could nearly double in Africa just by bringing other countries’ mobile payment penetration to the level of Kenya’s.
The potential is obvious. “54 percent of adults in sub-Saharan Africa make one or more long-distance payments in a given month,” the report says, citing a Gallup survey. We’re talking three-quarters of a TRillion dollars being remitted around the continent each year, 60% of it in cash. (And people…
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