Mobile Money Services Like M-PESA Key to Poverty Reduction In Africa
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M-Pesa, the world’s largest mobile money network, could be the key to poverty eradication in the developing world based on its success in Kenya where almost 200,000 households headed by women are living above the poverty line as a result of the innovation.
“What we saw over six years was impressive. When M-PESA came to an area, women shifted their occupations and their savings went up,” Thomson Reuters Foundation quoted Tavneet Suri, associate professor of Applied Economics at the Massachusetts Institute of Technology, who took part in the research.
January 03, 2017