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The economist: Mobile money would transform even more lives in poor countries if regulators got out of the way

The economist: Mobile money would transform even more lives in poor countries if regulators got out of the way | Mobility & Financial Services | Scoop.it

IN 2007 Safaricom, the biggest mobile operator in Kenya, launched M-PESA, a service that allows money to be sent and received using mobile phones. It has since signed up 15m users, is used by 70% of the adult population and has become central to the economy: around 25% of Kenya’s GNP flows through it.

Similar schemes have had some success elsewhere. More than 120 mobile operators now offer mobile-money services of various kinds, and another 90 will soon join them. There has been a particular push in east Africa. Yet in many poor countries where mobile money should be flourishing, it isn’t....

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East African countries should work together on mobile money ... - Finextra

East African countries should work together on mobile money ... - Finextra | Mobility & Financial Services | Scoop.it

East African countries should work together on establishing financial and telecommunications regulations that cover the region's hugely popular mobile money schemes, says a United Nations report. The UN Conference on trade and Development (UNCTAD) report says that this rapid growth in the region has outpaced the regulatory framework and there is now an urgent need to address the issue.

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