In December 2010, OeEB provided Business Advisory Services funds to two microfinance institutions in Rwanda and Nigeria for the implementation of mobile banking services.

Project name IFC Mobile Banking
Region Sub-Saharan Africa
Sector Banking and financial services
Service Business Advisory Services
Projekt partner(s) IFC

Due to the long distances to bank branches, poor people in rural areas in Sub-Saharan Africa have only limited access to banking services.

Together with IFC, OeEB provides Business Advisory Services funds to two microfinance institutions in Rwanda and Nigeria for the implementation of mobile banking services. Supermarkets and gas stations serve as the interface between banks and customers.

The population this way has the possibility to open mobile bank accounts and to e.g. buy phone credit or electricity, withdraw cash, send money, make savings deposits or pay back loans via their mobile phone.