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Subject
Mobile financial services in sub-Saharan Africa.
Significance
The surge in mobile financial services use in sub-Saharan Africa (SSA) provides opportunities for mobile network operators (MNOs), banks and other industries that can benefit from the data generated by these services. However, as demand for the sub-sector grows, providers will need to face the challenges of scaling up.
Impacts
Terrorism and money laundering fears hinder international money transfers to jurisdictions like Somalia.
Compliance costs with due-diligence procedures are often not justified by the modest profits on offer from niche money transfer providers.
However, such restrictions have a limited effect on the Africa-wide mobile transfer market potential.
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2015
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