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West Africa loosens mobile money rules. Who profits?

Mobile phone usage in Africa is high. Photo by Zac Wolff @ Unsplash
Mobile phone usage in Africa is high. Photo by Zac Wolff @ Unsplash

Brandon Orion Mensah

Brandon Mensah tracks Africa’s markets, uncovering the forces shaping investment, policy, and financial trends.
  • BCEAO allows greater investment of digital wallet reserves.
  • Cheaper transfers threaten fees but offer new earnings opportunities.

 

DAKAR, SENEGAL — West African mobile money providers could earn more from customer funds under new rules allowing wider investment of digital wallet reserves, even as cheaper transfers threaten fee income.

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