Going to a branch of a bank to update you bank book is increasingly out-of-date. The Internet now allows banks to transfer a large part of their operations online. In fact, today almost all banking can be done from a mobile. The World Economic Forum has brought together figures from the Global Financial Inclusion Database of the World Bank to rank the countries in which mobile banking is most popular. And the results show that Africancountries are by far the most numerous, with Botswana at the top of the list.
As much as it might sound strange, the reason for the popularity of mobile banking in Africa is due to the lack of bank branches and current accounts. That encourages a constant flow of transactions by mobile. In fact, the ranking includes the percentage of the population that has at least done one bank transfer from one of these devices during 2014. Africa is one of the great FinTech markets.
