Digital banking is the in-thing – but it excludes many users in Tanzania and Senegal
ACROSS countries in Africa, only 33% of adults have an account at a bank or another financial institution. Among the women, this rate is only 27%. Financial services like accounts, credit cards and retirement plans allow people to protect their savings, earn interest, borrow for big expenses like a house or medical bills, and even start their own businesses. This is why financial inclusion is mentioned in eight out of 17 of the Sustainable Development Goals. But opening and maintaining these kinds of accounts can be difficult when banks are difficult to reach. To solve this, some have proposed using…