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Africa eyes M-Pesa model as mobile phone use goes up
Ms Wambui Wainaina, an M-Pesa agent in Nairobi, serves a customer. Growing use of mobile phones in Africa provides huge potential for innovation in money transfer services such as M-Pesa. Photo/PHOEBE OKALL
The number of people owning mobile phones in Africa has grown to 735 million, setting the stage for mass adoption of Kenya’s money transfer model by countries keen to enhance access to financial services.
A policy brief from the office of the African Development Bank’s (AfDB) chief economist Mthuli Ncube relies on the annual average growth of 30 per cent in mobile telephone use on the continent since 2000 to arrive at the figure.
