Both in development research and policy, there is an increasing interest in the use of mobile phone technology in
Low Income Countries (LICs) and its impact on economic development and growth. Mobile money, as one
manifestation of such technology, stimulates welfare of households and small business in many African countries
and consequently increases the circulation of money in poorer communities. Increasing evidence shows that it also promotes savings in households via formal bank accounts. Individuals use mobile money for safety considerations, when travelling for instance. Moreover, mobile money technology provides additional advantages such as enabling easy access to market information, market prices, and enhancing market participation of farmers in remote communities.
Tilburg University (2016) Policy brief: Mobile money, trade credit and economic development