Bitcoin Mobile Banking and the Unbanked

According to the World Economic Forum, over 2 billion people worldwide are unbanked. Financial inclusion is vital in the eradication of poverty and upliftment of communities.  Moving away from cash in developing countries can significantly drive financial inclusion and acceptance of digital vs physical cash as we recently witnessed in India.

Read more about The Digital Explosion in India.

Mobile internet access, banking and smart phones are changing the game for the poor as Melinda Gates states in this video below:-

Mobile phone ownership in Sub-Saharan Africa is soaring in countries like South Africa, Tanzania, Kenya, Uganda, Nigeria and Ghana with ownership at it’s highest in urban African cities that have mobile and Internet infrastructure.

Smart phone Statistics:-

South Africa 37% – Nigeria 28% – Kenya 26% – Ghana 21% – Tanzania 11% – Ethiopia 4% – Uganda 4%.

Here is a list of smart phone penetration globally.

Infographic on mobile money accounts and financial inclusion Sub-Saharan Africa

In Zimbabwe, BitMari, known as the Pan African Bitcoin Wallet, initiated a Women Farmers Accelerator which is a project to raise money for Zimbabwean Women Farmers.  A selection of 100 farmers made up of 10 women in each of Zimbabwe’s 10 provinces received Bitcoin in their free BitMari Bitcoin Wallets.  They will be taught to use the Bitcoin for their farming requirements at selected suppliers nationwide.  The Farmers will fund back the project after a successful season and it will be used by the next group of farmers as an ongoing educational project – excellent initiative.  For more information on BitMari, CLICK HERE.

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Embrace the new digital economy, do not get left behind!

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