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Information and Communication Technologies

Protecting Somalia’s growing mobile money consumers

Thilasoni Benjamin Musuku's picture



The mobile money market is booming in Somalia. Approximately 155 million transactions, worth $2.7 billion or 36% of gross domestic product (GDP), are recorded every month. Mobile money accounts for a high proportion of money supply in the domestic, dollarized economy and has superseded the use of cash; seven out of 10 of Somalis use mobile money services regularly.

Five ways Nigeria can realize mobile technology's potential for the unbanked

Leora Klapper's picture

Although it’s Africa's largest economy, Nigeria is missing out on the region’s most exciting financial innovation: mobile money.
 
Twenty-one percent of adults in Sub-Saharan Africa have a mobile money account, nearly double the share from 2014, according to the latest Global Findex report.
 
By contrast, Nigeria lags behind: just 6% of adults have a mobile money account, a number virtually unchanged from 2014.

Le projet Central African Backbone, moelle épinière de la révolution numérique au Gabon

Radwan Charafeddine's picture
Also available in: English
Photo : O. Hebga/World Bank

En 2010, le Gabon accusait un retard considérable dans le secteur du numérique. Les coûts d’accès à internet étaient exorbitants et la qualité de service laissait à désirer. Cela était principalement dû à la situation de monopole de l’opérateur historique, Gabon Télécom, et au manque d’infrastructure de transport fibre optique dans le pays. De plus, le cadre légal et règlementaire du secteur ne permettait pas d’attirer les investissements du secteur privé.

The Central African Backbone project, central pillar of the digital revolution in Gabon

Radwan Charafeddine's picture
Also available in: Français
The expansion of the fiber optic network serves to increase productivity and enhance administrative efficiency.  Photo Credit: O. Hebga/World Bank


In 2010 Gabon was lagging far behind in the development of its digital sector.  The cost of internet access was exorbitant and service quality left a lot to be desired.  This was due largely to the monopoly enjoyed by the traditional provider, Gabon Telecom, and to the lack of fiber optic transport infrastructure in the country.  Furthermore, the legal and regulatory framework of the sector was not conducive to the attraction of private sector investment.

Financial inclusion in Ethiopia: 10 takeaways from the latest Findex

Mengistu Bessir's picture
In Ethiopia, women account for a disproportionate share of the unbanked, and the gap is widening. Photo: Binyam Teshome/World Bank

The World Bank Group (WBG), with private and public sector partners, set an ambitious target to achieve Universal Financial Access (UFA) by 2020. The UFA goal envisions that, by 2020, adults globally will be able to have access to a transaction account or electronic instrument to store money, send and receive payments. The WBG has committed to enabling one billion people to gain access to a transaction account through targeted interventions. Ethiopia is one of the 25 priority countries for UFA initiative.

Will automation kill South African jobs? No, say new studies

Marek Hanusch's picture
South Africa: in need of speeding-up economic productivity with more innovation. Photo: Credit: Arne Hoel/World Bank


The 4th Industrial Revolution is here: driverless cars, 3-D printing, and Artificial Intelligence are the future. These innovations deliver the promise of better and more convenient lives to many. But they also disrupt the way in which we used to do things, including the way we work.

Can South Africa tap into its innovation potential to improve the lives of its citizens?

Gabriel Goddard's picture



Some people think innovation is only about gadgets, high-tech industries, and laboratories. But this is only the tip of the iceberg! The truth is that there are many types of innovation that can have a transformational impact on everyday people’s lives.

Agribusiness can help to unlock the true potential of Africa

Teodoro De Jesus Xavier Poulson's picture
A woman farmer works fields in the Conde’ community of Morro da Bango, Angola. © Anita Baumann

The challenges faced by small farmers are similar across the developing world – pests, diseases and climate change. Yet in Africa the challenges are even greater. If farmers are to survive at current rates (let alone grow), they need to have access to high-yielding seeds, effective fertilizers and irrigation technologies. These issues threaten the region’s ability to feed itself and make business-growth and export markets especially difficult to reach. Other factors include the rise in global food prices and export subsidies for exporters in the developed economies, which leave African farmers struggling to price competitively.

Mobile connectivity in Africa has already arrived

Borko Handjiski's picture

What is the main difference between high-income and developing countries?

Here is my take: People in the former have much more of pretty much everything. Almost everyone living in high-income countries has access to electricity; in poor (low-income) countries, 7 out of 10 people don’t. Most families in rich countries own a car, but only a few people living in the developing world do. On per capita basis, rich economies have 15 times more doctors than poor countries, consume 40 times more energy, have 50 times more ATMs, and so on.

Qui apportera de la valeur ajoutée à l’Afrique ? Qui soignera ? Qui construira ?

Andreas Blom's picture
Also available in: English

 Dasan Bobo/World Bank​En tant qu’économiste, spécialisé dans le secteur de l’éducation à la Banque mondiale, je passe souvent en revue  de nombreuses stratégies pays ou sectorielles dissertant sur la meilleure façon de développer l’Afrique et d’y atteindre une croissance économique élevée.
 
Et à chaque fois je me demande: mais qui le fera ? Qui apportera de la valeur ajoutée aux exportations africaines ? Qui construira ? Qui inventera ? Qui soignera ?
La réponse est évidente : ce sont les jeunes fraîchement diplômés des universités africaines et des instituts de formation. Certes, mais dans ce cas nous avons un problème : il n’y a tout simplement pas assez de diplômés en sciences, en technologie, en ingénierie et en mathématiques (STIM) à l’heure actuelle sur le continent et la qualité des formations est très inégale.

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