This is the second of four posts on Africa 2011. In this post I'll talk about two trends that really has caught my attention.
Mobile payment systems
Something that really caught the attention of many in 2011 is mobile payment. Less than 10 % of Africans have a bank account, but there are more than 620 million mobile phones in circulation. Africa has overtaken Latin America to become the second largest mobile market in the world, after Asia. Mobile payment is the future. Mobile payment has huge potential and many African countries are riding that wave now. Kenyan Safaricom has had huge success with their M-Pesa. They have transacted what is equivalent to 20 per cent of Kenya's GDP and what is more money than Western Union transfers - globally. Watch a short M-Pesa documentary Read more