Africa: The financiers testing the reach of mobile money
Many parts of Africa present formidable obstacles to financial inclusion. Euromoney speaks to some of the pioneers that are using technology to bring far-flung populations into the financial system.
Ugandan dairy farmer Margaret Bahigura knows precisely when her grandson Stone Atwine gets invited to speak at an African tech or banking conference or feels compelled to explain how his fintech, Eversend, works to a journalist, a potential financier or a central banker.
That’s because 87-year-old Margaret’s net worth increases a little bit more each time he does so. Atwine’s party piece is to demonstrate the flexibility of his fintech by sending her some cash through it from wherever he is speaking. These Covid days, that tends to be mostly from Paris where Atwine has based Eversend under a French government fintech support scheme.