With as many as 12 million mobile phone users, mobile is booming in Afghanistan (Credit: USAID, Flickr Creative Commons)
Afghanistan has made significant progress in its development since 2001. Yet, these achievements remain fragile due to a volatile security situation and limited human capacity. Of an estimated 30 million inhabitants, 46 percent is under the age of 15 and with high population growth, the country is experiencing a classic youth bulge. In addition, literacy rates remain at extremely low levels (approximately 43% for men and 12% for women).
OK, not exactly an App, but investors in Kenya will soon be able to buy T-bills and bonds offered by the Central Bank of Kenya (CBK), as agents of the Treasury, through their mobile phones (with or without a bank account)!
This innovative project, led by CBK, with the support of the World Bank, is known as Treasury Mobile Direct. It will aim to extend the use of mobile technology beyond money transfers and broaden the choice of savings products for retail investors. Potential investors will only need a mobile phone line and a subscription to a mobile money service, which will enable telecoms operators open an electronic account with the Central Securities Depository (CDSC) or CBK on their behalf. These accounts are a requirement if you wish to invest in Government debt. The service will include purchase, interest payment and redemption of securities (short-term paper and bonds) through the mobile platform.