Helping Africans improve their lives by tracking their smartphone usage
Dec16
Globally, two billion adults don’t have access to a bank account. A high proportion of these people are in Africa, where, according to the World Bank, only 34 percent of adults are formally banked. Drill down into the figures and the lack of access to financial services on the continent becomes even more clear. Only 16 percent of Africans make use of formal savings services, and only six per cent use formal borrowing. Part of the reason behind this is lack of access to these unbanked people, the majority of whom live in rural areas, far even from roads and…
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