mobile banking Archives - AfricaBusiness.com

by Johan Burger The NTU-SBF Centre for African Studies publishes a weekly newsletter on issues relevant to Africa. This paper is based on issues addressed in the newsletter. The financial services industry in Africa has seen a lot of development throughout the past few years, as was the case in 2018. Mobile telephony has driven the US$300 million monthly transactions in Africa from 7.2 million new people (up 250% from 2012) using digital financial services and 45,000 new banking agents due to a financial inclusion project. Financial inclusion in Sub-Saharan Africa has increased from 23% in 2011 to 43% in 2017. Mobile money solutions and agent banking now offer affordable, instant, and reliable transactions, savings, credit, and even insurance opportunities in rural villages and urban neigh...

By Thandisizwe Mgudlwa So James Alt, the risk advisory senior manager at Deloitte Cape Town believes that the big corporate companies utilise innovation to produce cutting edge solutions for new technologies in order to remain market leaders. Where development of these new technologies is outsourced to service organisations, corporates are faced with a set of risks associated with the outsourcing model that need to be managed. Global research confirms that the growth of the African mobile communications market and the continent’s reliance on mobile telephone technology has opened up a market for innovative entrepreneurs to develop applications and tools to improve the lives of people and help companies reach their target markets. At the forefront is the leading role Africa is t...

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Friday@Noon on Financial Services in Africa: 2018

African Mobile Banking sector shows great promise