CGAP received nearly 200 proposals from digital financial services providers across Africa interested in piloting new products. A look at those proposals — from 30 countries — shows that innovations are spreading beyond hot spots like Kenya.
Access to finance in WAEMU is very low, even by comparison to other regions of Africa. The rate of bancarization announced by the BCEAO in December 2010 was 9.5% and 12.7% of the population had an account with an MFI.
This post is the second in the series on “Five Business Case Insights on Mobile Money.” In the first post, we shared with you a detailed presentation on the five insights. Here we explain further the first three insights.
Digital finance is advancing in WAEMU, but within the region there are eight countries all with unique markets facing disparate challenges. When it comes to mobile money and financial inclusion, the question for some is "where do you start?"
With the launch of Manko in 2013, Société Générale de Banques au Sénégal (SGBS) is one of the few commercial banks that could potentially disrupt the market and redefine the role of banks in Senegal and WAEMU more broadly.
CGAP recently interviewed representatives of 100+ organizations in Benin, Côte d’Ivoire, Senegal, Mali and Niger to better understand the market system for digital financial services in the West African Economic and Monetary Union (WAEMU). What have we learned?
Wari recently announced plans to acquire Tigo in Senegal, a move that would combine Senegal’s largest over-the-counter agent network with Tigo’s e-money wallet. This acquisition could disrupt the digital finance market in a way that benefits low-income customers.