Money Matters

Is mobile banking the future of financial services in Africa?

In a “Gates Notes” annual letter (2015), Microsoft founder and philanthropist Bill Gates wrote on the impact smartphones and mobile banking will have in the next 15 years.

You can see he had a point. If you look at the major banks in South Africa for example, most of them have launched mobile platforms for sending and receiving money. The interesting thing is though that this revolution (or variations of it) was actually started by a Mobile Network Operator in East Africa. Zambia also jumped on the train which resulted in a number of similar services with ZOONA being one of the most widely used.

In this month’s edition of Money Matters, we examine how mobile banking is revolutionising the financial services industry in Zambia, how this gap came about and how you can take advantage of the network of partners that have come together to serve your need to get money to your loved ones back home quickly and easily.

mobile banking

You can read the full article in ZASA Magazine - Issue 26 - November 2017 to understand the context of this post, it is supplementary material.

Click the following link to download the magazine for free > ZASA Magazine - Issue 26 - November 2017

Do you have questions or comments you’d like us to pass on to Mukuru for you? Submit them here and we will make sure they get back to you.

Visit Mukuru.com to start your own cheaper and more secure money transfer journey!


Sources: African Development Bank Group | Footnote | AllAfrica | Manic

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