According to The World Bank, 1.7B adults are unbanked. That's almost 1/3 of the
global adult population.

63% of the population in #Africa is unbanked/underserved.

I saw the power of mobile-enabled #financialinclusion 1st hand when I visited
#Kenya a few years ago. Our tour guide helped me open an #mpesa account in a
local grocery on our way to the safari. "It's safer to keep your cash in your
phone". This was the classic use case that many of us in the industry had
studied, yet it felt odd giving my cash to someone behind an unpretentious
counter who didn't give me anything physical in return! The person on the other
side had opened my account paperlessly with his mobile phone (not a smartphone),
even while the store lost power a couple of times and went dark. And yes, I got
my unspent cash back after a few days when we returned after enjoying the
animals in the wilderness.

14 years after Safaricom PLC launched this pioneering product, there is now a
resurgence of innovation in the continent, this time via #FinTech, summarized in
this MEDICI Global insight by Ravi Rathi and
Chandraditya Gudla.

Amit Goel Debmalya Datta Francesco Piluso Giuseppe Marchese Salil Ravindran
Sulesh Kumar

Originally posted by Aditya Khurjekar on LinkedIn