Over the last decade, the number of mobile money providers and lending platforms in African markets has surged. As smartphone penetration rises and data costs decrease, a growing number of Africans are switching to digital banking. Last December, three digital banks announced their launch in South Africa, the continent’s most advanced banking sector. Their lower cost structure and aggressive customer acquisition plans will help to capture a larger share of the banking market but, contrary to doomsday ...
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Added February 22, 2019