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Yeah MPesa is a good example of the market potential. Our approach is a bit different but it's the same ballpark.

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> On Feb 22, 2015, at 6:58 AM, Hunter Biden <hbiden@rosemontseneca.com> wrote:
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> 4) Banking the Unbanked
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> According to a 2012 report by the World Bank, more than 2.5 billion people (half of all adults in the world) are unbanked, without access to a bank account. Mobile phones are quickly helping change this statistic. Today more than 55 million Africans use basic phone services to transfer money with each other, take out insurance policies, and collect payments from government agencies. Although only a few bucks per transaction, Africa's "mobile market" is huge, topping $61 billion USD in 2012, with more mobile money sent than the equivalent markets of Europe and North America combined. In fact, mobile money accounts have outnumbered bank accounts in Kenya, Tanzania, Uganda, and Madagascar. Across sub-Saharan Africa, more people have a mobile money accounts than Facebook accounts. In 2007 the mobile carriers Safaricom and Vodacom launched the service M-Pesa to allow customers to store credit on their mobile phone accounts to pay bills or buy products. Money can be transferred to merchants, people, or government agencies through a creditor's related phone number. Through this approach, debits are deducted directly mobile phone accounts, without the need to fuss over a bank account.
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> RHB
> 202.333.188