New research from the World Cocoa Foundation explores the potential of mobile money to enhance cocoa farmers’ livelihoods in Côte d’Ivoire and Ghana and paints a detailed persona of customers at the frontier of widespread adoption.
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.
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?"
On the surface, Cote d’Ivoire may seem like an unlikely contender to challenge the digital financial success in East Africa. However, the country has great potential to be the next digital finance success story.