Regulatory Impact on Mobile Money and Financial Inclusion in African Countries – Kenya, Nigeria, Tanzania and Uganda

This paper examines the role of regulatory environment in the development financial inclusion through digital means that use of mobile phones to provide financial services such as payments and deposits. Countries which embrace financial reforms will ultimately be the ones that drive innovation in mobile financial services and build inclusive, secure, and efficient financial sectors. The paper focuses on innovative mobile phones money and banking options in four African countries - Kenya, Nigeria Tanzania and Uganda. It highlights differences among the 4 countries and their financial regulatory environment. It further examines different regulations that have influenced the development of financial inclusion through the use of the mobile financial services in the 4 countries.