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Address barriers in smaller markets for financial inclusion
A Mobile Money stall located near the Kenya National Archives that caters to residents using mobile money from any of the local mobile service providers as pictured on September 10, 2022.
The potential for mobile money and digital payments to drive financial inclusion is immense. We can see this potential being unlocked in Africa as it accounts for 70 percent of the world’s $1 trillion mobile money value and registered a 12 percent growth in mobile money accounts to 1.75 billion in 2023.
This is opening a number of new opportunities for economic growth and development as more robust and connected payment networks are breaking down geographical barriers, opening up access to new markets and enabling anyone to send and receive payments quickly and easily from and to anywhere in the world.
