Mobile communications could foster African entrepreneurship

Jan 18, 2010

The emergence of mobile phone communications throughout the African continent could offer an invaluable mechanism through which microfinance schemes are implemented.

In an article posted by Anne Perkins on the UK's Guardian newspaper website, she noted how mobile technologies could theoretically solve issues related to inaccessible web access and unavailable banks.

Ms Perkins highlighted a microfinance initiative in Uganda by the Grameen Foundation, which resulted in many villagers being able to access a community phone.

She observed that phone sharing services have been the driver of a "small-business revolution".

The correspondent also hinted that mobile phones can increase the wealth of those with low incomes, adding: "For smallholders trying to decide when or where to sell, a single phone call can be an equally profitable experience."

In other news, the Africa-Middle East Microcredit Summit and Exhibition will be held between April 7th and 10th 2010 in Nairobi, Kenya.

The event will feature workshops, courses and presentations designed to detail how microfinance institutions can help eliminate poverty across the continent.