How fast is Africa's mobile money market moving?


ICT analyst Adrian Schofield says the mobility of labour in Africa between the poorer and more developed economies has traditionally created a strong remittances market, much of it in cash, carried across borders in person or using "trusted" carriers. More formal transfers using companies like Western Union and the banks would be more reliable, but the charges were expensive.
Schofield adds that the arrival of the mobile phone began to change the market and from the early days of airtime transfers, has developed to the emergence of money transfer systems like M-Pesa, MTNMMO supported by the network providers, and also alternative money systems like Bitcoin.


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