INPRESSPHOTO

By BuschObama

Money transferr on rocky soil.

How do you tranfer money in rural developing countries? By way of your mobile 7 million owner in Kenya with a population of 38 million,it works!

Extending mobile money to other poor countries, particularly in Africa and Asia, would have a huge impact. It is a faster, cheaper and safer way to transfer money than the alternatives, such as slow, costly transfers via banks and post offices, or handing an envelope of cash to a bus driver. Rather than spend a day travelling by bus to the nearest bank, recipients in rural areas can spend their time doing more productive things. The incomes of Kenyan households using M-PESA have increased by 5-30% since they started mobile banking, according to a recent study.

No one needs to be conned by buyers coming to the villages in rural areas the farmers can check thru their mobile the market price in Nairobi and get a decent bid for their produce.

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