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Côte d’Ivoire: Banks Set Aside in Favor of Mobile Money

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More and more, Ivorians are abandoning banks in favor of mobile phone companies. In 2014, more people had mobile money accounts (24%) than had bank accounts (15%). Indeed, the percentage of adults with a mobile money account in Côte d’Ivoire is the fifth highest in the world, after Kenya (58%), Somalia (37%), Uganda (35%), and Tanzania (32%). Fewer than five years after its arrival in Côte d’Ivoire, mobile money has become one of the population’s most frequently used means of conducting financial transactions.

For more on this story visit the following link: Financial Services in Côte d’Ivoire: Banks Set Aside in Favor of Mobile Money

Source: WorldBank

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