African Financial Sector News

Children handle money early these days


Children in Ghana have a special subject in school: Financial Literacy. Abdullateef Abubakar Jos spoke to Diana Esi Mantey, Director of Curriculum, Research and Development at Ghana Education Service, about the impact of these courses.

Zambian SMEs worry about customs union


Zambia has a large small and medium enterprise sector. But many business people are afraid that their products will not be competitive within the new COMESA customs union. Listen to Stephen Mdoma's report from Lusaka, Zambia.

Micro-insurance companies go to the poor


In Ghana, insurance companies now take the initiative of reaching out to low income earners, bringing insurance policies to their doorsteps. This is a complete switch from the past, where it was only big business and the wealthy that could have access to insurance policies.

CGAP and WIZZIT partner on mobile banking for poor people in rural South Africa


 | Source: CGAP

Johannesburg, South Africa – CGAP is supporting WIZZIT Bank to deliver banking services to poor people in South Africa’s small towns and rural areas. WIZZIT is a division of the South African Bank of Athens Limited.

The project’s three key components use point-of-sale devices in combination with WIZZIT’s mobile phone banking platform:

• A mobile banking payment service for the major wholesalers serving more than 500 microentrepreneurs (spaza shops) in the township of Motherwell, where three in

Challenges to Regulation of Mobile Transaction Services, E-Money, and other Branchless Banking Technologies


 | Source: Microcapital on Microfinance and Microcredit

In March 2007, when Kenyan cellphone service provider Safaricom launched its mobile payment service M-Pesa (‘M’ for mobile; ‘Pesa’ meaning money in Swahili), it predicted the service would attract 450 thousand customers by January 2008. The service caught on, and fast.

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