The six key reasons consumers in sub Saharan Africa love mobile money -Mobile money transactions represent a substantial portion of domestic economic activity in many countries across sub Saharan Africa. In... -
Mobile money transactions represent a substantial portion of domestic economic activity in many countries across sub Saharan Africa. In countries such as Kenya, Tanzania and Zambia, mobile money transactions volumes and values even exceed domestic electronic funds transfers Despite the runaway growth of mobile money, there is still a dearth of research into why people in many markets prefer mobile money payments to the alternatives.
While much has been written about the benefits of mobile money in driving financial inclusion, there is less literature regarding the consumer’s experience and preferences. Do people see a difference between traditional currency and mobile money? What do they prefer and why? I interviewed people in Kenya, Ghana, Mozambique Nigeria and Zambia to get a qualitative understanding.
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