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Bloomberg explores why Nigeria (which vies with South Africa as the continent’s biggest economy) is struggling to get mobile money off the ground as it has elsewhere in Africa. Less than 6% of Nigerians use their handsets to spend mobile money, compared with 73% of Kenyans.
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Less than 6 percent of Nigerians use their handsets to transact using mobile money, compared with 73 percent of Kenyans, where more than two-thirds of adults have a bank account, according to the World Bank. That’s even though there are more than two phones for every bank account in the West African nation.
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