Nigeria Advances Financial Inclusion: M-KOPA Nigeria, led by Babajide Duroshola, is revolutionizing financial inclusion by offering affordable smartphones to underserved populations. Despite Nigeria’s financial inclusion rate increasing to 74% in 2023, challenges like poor infrastructure and expensive smartphones remain, hindering progress towards the Central Bank’s 95% target for 2024. M-KOPA’s pay-as-you-go model facilitates smartphone access through manageable payments, empowering users with digital tools for financial transactions. Collaborations with companies like Samsung and MTN enhance connectivity. As M-KOPA garners $1.5 billion in credit facilities, it aims to expand its reach across Nigeria, boosting financial inclusion and economic growth. Read more from Business Day.
Smartphone access will increase traders’ earning, savings power — M-KOPA boss
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