econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 05 July 2017

Banking On The Go

from the International Monetary Fund

Worldwide, more than two billion people are without bank accounts, and only one in three adults in sub-Saharan Africa has access to any type of financial services.

In this podcast, Tayo Oviosu, founder and CEO of Nigeria's leading mobile payment platform, Paga, reveals how his company is rapidly bringing millions of unbanked Nigerians into the banking fold.

“The impact of Paga has been in bringing financial services to the mass market, and into every neighborhood and community in Nigeria," Oviosu says. “We now have six million customers who are using our services to perform transactions on a daily basis."

Paga, which started in 2012, has risen to the center of economic activity in Nigeria, helping to provide jobs and access to financial services, particularly among youth.

“The beauty of having a population where about 54 percent are below the age of 33 is that we can focus on the youth who are more comfortable online, whereas adults would more likely want to go to an agent for their services," he says.

Paga’s success is also helping to drive national discussions to improve banking regulations and privacy and protection laws and collect financial data in Nigeria.

“We are collecting a lot of data [on our mobile platform], so we have to think of privacy, the right way to handle this data, and whether it’s regulated correctly," Oviosu says. “We want to make sure that regulation protects people."

You can watch the webcast of the IMF/World Bank 2017 Spring Meetings seminar on digital financial inclusion in Africa, and read the IMF Managing Director’s recent blogs on financial technology - fintech.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Contributors








search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved