Sierra Leone: Airtel Expands Mobile Money through “Bank on Wheels”
With over 40 percent mobile phone users, mobile money provides financial services to the unbanked populace.The facilitation of mobile money by Airtel has significantly transformed money transfer between friends, families and businesses across Sierra Leone. With the use of tricycle which can be described as "Bank on Wheel" provided to facilitate sending and receipt of money, Airtel positions trained money agents in different parts of Sierra Leone to provide mobile money services to hundreds of customers weekly. The accelerated growth of mobile money in the region presents it as one of the fastest, safest and easiest means of sending and receiving money without time or geographical constraints. Beyond sending and receipt of money, workers in remote areas are paid allowances via mobile money. With population of 7.1 million people, only 11 percent of the population have bank accounts in 13 commercial banks in Sierra Leone; Airtel mobile money has bridged the gap by covering the unbanked population and enabled them use financial services conveniently.