Dearest Reader,
Welcome to a new week! I hope it finds you in good spirits. My apologies for sneaking up on you on a Tuesday. It’s been a busy stretch on my end — submissions, deadlines, and working with some brilliant writers behind the scenes (I will bring the gist next week, I promise).
But between running these projects and all, I had a nice discussion last week with a Financial analyst about how we often overlook Africa’s role in shaping the digital world, especially regarding money.
So let’s talk about it.
The Mobile Money Revolution: Why Africa is Leading It
If you’ve been paying attention, you’ll know the world is obsessed with digital banking, crypto, neobanks, and fintech apps that promise to "change everything."
But while Silicon Valley was busy creating flashy finance tools for people with bank accounts, Africa was solving real problems for the unbanked and underserved — and doing it well.
Africa didn’t wait for the world to include us.
We built our way in through mobile money.
From the dusty streets of Lagos and Nairobi to the bustling markets of Accra, mobile phones have become more than a way to communicate — they’re a lifeline to financial access.
Some Quick Facts:
Over 70% of global mobile money transactions in 2023 happened right here in Africa.
Kenya’s M-Pesa, launched in 2007, is a pioneer — now used by over 30 million people.
Nigeria, with its booming fintech scene, is revolutionizing P2P payments and merchant solutions.
Ghana has built one of the continent’s most integrated mobile money ecosystems—a system that is regulated, trusted, and widely used.
All of this? Built on the backs of basic feature phones, USSD codes, and sheer necessity.
Why It Worked
We didn’t have to wait for the perfect infrastructure — we simply made use of what was available.
Regulators in countries like Kenya and Ghana supported telcos offering financial services.
Startups saw an opportunity where others saw risk.
USSD-powered tools meant even a N3,000 Nokia phone could handle your rent payment.
Local agents became the new bank branches, and trust was built in person, not just online.
While the West debated inclusion, Africa was living it.
The Bigger Picture
This mobile-first model is doing more than just moving money:
It’s giving women and youth more financial independence.
It’s helping small businesses thrive with faster payments and lower risks.
It’s letting governments disburse benefits with more transparency.
And it’s encouraging homegrown tech innovation that’s deeply relevant to our daily lives.
And maybe most importantly? It’s rewriting the narrative.
We’re not just catching up — we’re leading.
I think there’s something deeply poetic about how Africa, often seen as the one playing catch-up, is now showing the world what real digital inclusion looks like.
It’s a reminder that innovation doesn’t always look like glossy dashboards and investor decks.
Sometimes it looks like a mum in Lagos sending school fees through her Nokia.
Sometimes it looks like an agent on the corner street processing 50 withdrawals before lunch.
That’s real tech. That’s real progress.
And that’s a story we need to keep telling.
I’ll see you next week with more behind-the-scenes gist, creative reflections, and a little more gist I’ve saved up for you. Till then, stay soft but focused!
Your Favorite Writer,
Keziah Abiola