Despite Africa’s lowly position in the world research and development rankings, there is one area where the continent is in the forefront of technology usage: mobile money transfer, which is typically the first step in mobile banking.
While still not widespread through the continent, the use of mobile phones for funds transfer in Kenya, South Africa and Tanzania far outstrips that of most developed countries.
The M-Pesa system launched in Kenya in 2007 by mobile network operator Safaricom exceeded 17 million users — nearly 40% of the population — in February 2013, according to the company. Notably, about 25% of the country’s gross national product flows through the system, said a May 27, 2013 report in the UK financial journal, The Economist.
Our mobile banking is a fast and reliable way to perform various tasks without necessarily going to the banking hall. Some of the functionalities of this platform include transfer to M-Pesa, balance inquiry, mini-statement request among other fascinating functionalities. Simply dial *882*21# and register to access this service.