Mobile Phone Banking Comes to South Africa. Will It Work?
Vodacom's M-Pesa mobile phone banking service is all the rage in Kenya, where in 3 years it jumped to 10 million customers in a country of 37 million. But as M-Pesa launches in South Africa, it will find a market full of similar services, from cash-transfer windows at grocery stores to Western Union.
A gentleman consults with a clerk at M-PESA in Nairobi, Kenya, in this Sept. 2007 file photo. Vodacom's M-Pesa mobile phone banking service is all the rage in Kenya, where in 3 years it jumped to 10 million customers in a country of 37 million.
Matthew Clark/The Christian Science Monitor/File
This is one of the articles that stood out to me the most that I was able to find. Having a way to give the poor sector of African countries a stable form of banking to some degree is the first step in a big way to help stabilize what some could say is a volatile area. All we can hope is that it goes well in the other areas of Southern Africa.
http://www.csmonitor.com/World/Africa/Africa-Monitor/2010/0903/Mobile-Phone-Banking-Comes-to-South-Africa.-Will-It-Work
