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The Made-In-China DNA In African Fintech Looms Larger Than It Looks

News Snapshot:

It took some time to get off the ground but once it got going in Kenya, M-Pesa soared and soared relentlessly – hitting stratospheric levels of success. Today, it’s a global reference point for the kind of outsized impact that can be derived from essentially turning even the most basic feature phone into a bank account. Having driven financial inclusion in Kenya to nearly 90 percent and inspired the rollout of many other mobile money/mobile wallet services in Africa and beyond, M-Pesa is largely considered a masterstroke orchestrated by Kenya’s largest telco, Safaricom. The telco typically gets all the credit…

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