Nine out of 10 low-income m-banking customers surveyed say m-banking is "not expensive" or is "inexpensive" for the benefits it offers, and 93 percent say they feel their money is as safe as with any other bank. However, findings also show most low- income people who are not customers have negative perceptions about banking and know little about mobile banking.
While we frequently make mostly invisible tweaks to the blog, here are two new changes I'd like to share:
Casting a wide net, McKinsey estimates that the economic impact of wireless is up to 8% of a country's GDP. To unlock this value, they encourage wireless providers and/or regulators to lower the minimum (but not average) cost of owning a cell phone and push coverage into rural areas. This is from a recent whitepaper, Wireless Unbound, which they were kind enough to send me. Check here to find your way behind the firewall and read the whole thing.
Visit Christian Science Monitor for a thoughtful profile of a Rwandan coffee cooperative that bridges the Hutu-Tutsi divide. Cooperatives like it are helping absorb the tens of thousands of prisoners being freed after serving time for acts of genocide, while contributing to Rwanda's 7% annual growth in GDP.