MobileMoneyExpo event to be held in Lagos – Nigeria next month

The fourth MobileMoneyExpo in Lagos next month will focus on low-income individuals and attempt to introduce banking to “the bottom of the pyramid in Africa”, the continent with the largest market for mobile money.

The event will address what needs to be done to overcome the hurdles of reaching the millions of people who do not have access to formal financial services but yet own a phone in Africa.

According to a report published by the Africa Development Bank, 14 percent of Africans have made use of mobile money solutions, compared to 6 percent in the rest of the world.

Financial inclusion has become the buzz word within the regulatory, policy, financial, innovators, technology circles and other stakeholders in the formal financial services space but significant barriers still exist according to event organizers.

Read more: HumanIPO