Mobile Money is bringing more and more products and services to bottom of the pyramid (BoP) customers in Africa. The market leader in mobile money in Tanzania is Vodacom’s M-Pesa. Many businesses and organizations targeting middle and upper class customers have opened M-Pesa (and other mobile money providers) collection accounts to receive payments from their customers.
The most important use of mobile money by BoP customers still is sending and receiving remittances to/from family and friends but other applications by companies targeting BoP clients are emerging: saving money and loans (M-Pawa), health insurance (Jamii/ bimaAfya), pre-paid solar electricity (M-Kopa, Mobisol, Off-Grid: Electric), and very recently pre-paid biogas (Takamoto Biogas). Read more
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