East Africa: Borrowing by Mobile Phone Gets Some Poor People into Trouble

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Nov 2018
East Africa, November, 17 2018 - Mobile money, which offers the equivalent of a basic bank account to almost anyone with any sort of phone, has long been seen as a boon for financial inclusion. So recent evidence that it is leaving problems in its wake is causing dismay. Digital credit through mobile phones is leading in some places to overborrowing, hardship and—horror of horrors—even more financial exclusion.

Full story available on publisher's website.


Source : The Economist
 

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