Zanzibar — AS the use of mobile technology grows fast, the African continent has a great potential of changing the financial exclusion challenge through the use of mobile phones, Professor Benno Ndulu, Bank of Tanzania Governor has said.
"Africa has the highest mobile subscriptions among major world regions. For instance, in quarter-three of 2012, Africa had 821 million mobile subscribers accounting for 76 per cent of African population of 1.08 billion people," said Prof Ndulu at the De La Gema Hotel and resort, Nungwi village, north of Unguja Islands.
He said it is anticipated that by end of quarter one this year (2013), the penetration rate will be 80 per cent of the population. Ndulu was speaking at a two day meeting for governors and deputy governors from African countries on "African Mobile Financial Services and Financial Inclusion" which ended on Friday.
He said that sub-Saharan African is known to be the fastest-growing mobile market in the World. Thanks to Alliance for Financial Inclusion (AFI) in collaboration with Bank of Tanzania (BoT) and Central Bank of Kenya for organizing the meeting.
Ndulu challenged the gover- nors to find answers to three key questions in the financial inclusive strategies: What reasons cause some countries to register success in using mobile phone technology for financial services