Kenya: mobile money transfer

Bankele's post on money transfer within Kenya shows how mobile phone technology transforms the financial sector in Africa ^[1], “With cell phones this is already happening but it's just not formalized. The Option – Safaricom's free magazine publication has a letter to the editor this month from Joe Nickson of Kerugoya (central Kenya) who paid his fare in a matatu (bus) by transferring 50 shillings airtime to the conductor's phone and he received 30 shillings actual cash as change.
Airtime offers many more possibilities – 7 million cell phone (including more post-paid cell phone customers) vs. 100, 000 credit card users in Africa.”