However, when his wife needs money he simply locates his nearest mobile money agent, known as an ‘M-PESA’ agent in Kenya. Research has shown that access to financial services contributes to economic growth and helps to reduce poverty and socio-economic inequality. It is therefore curious that mobile money services have not gained any real traction in Nigeria. Mobile money services are more likely to target the poor and financially excluded. Under this framework, entities deemed “eligible promoters” would be allowed to provide certain mobile money services to rural Nigerians.

Source: The Guardian February 13, 2019 03:22 UTC