Mobile Money on the rise in Africa as millions get phones

Millions of African depend on mobile money for daily activities like paying utility bills to special circumstances like helping a friend in distress. But the multibillion-dollar mobil money industry is increasingly going global, making it possible for mobile customers to send money across borders instantly.

This year, mobile money services have become international. In January, the London-based remittance service company WorldRemit and the South African telecom giant MTN Group announced a global partnership agreement that allows WorldRemit customers to send money instantly to MTN mobile money wallets in Rwanda, Uganda and Zambia, adding to the growing list of destinations where such transfers can be possible.

Rodney Muhumuza

Associated Press

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