World Bank – WIZZIT: Banking the Unbanked in South Africa
In many developing countries, particularly in rural areas, access to financial services is costly and very limited. This translates to a large percentage of the population operating on a cash basis only and outside of the formal banking system. It is estimated that 40 percent of South Africa’s 45 million population are un-banked or under-banked. However, nearly 60 percent of South Africans have mobile phones. The proliferation of mobile services worldwide has created a unique opportunity to …
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