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Africa Live: Ugandan civil servants told to exercise weekly - BBC News | |
(about 1 hour later) | |
Kenya's Safaricom is expanding its mobile money transfer service M-Pesa to West Africa. | |
When the service was launched in Kenya in 2007 it revolutionised banking and money services in the country. | |
But it is entering a much more crowded market in West Africa. | |
There are more new mobile money customers in the region than anywhere else in the world, a recent report found. | |
In Nigeria, for example, less than half of all adults are said to have a bank account, meaning many rely on mobile money services such as Palmpay and Opay. | |
The M-Pesa plans on were announced on Monday. | |
It's part of a deal with Access Holdings - the parent company of Africa's largest bank, and a Nigerian wealth management group called Coronation Group. | |
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