The Co-chair of the Bill and Melinda Gates Foundation, Bill Gates, has expressed an interest to invest in the electronic payment and store value system in Ethiopia after seeing the increasing number of users in Uganda, Kenya, and Tanzania.
The philanthropist and co-founder of Microsoft referred to the electronic payment and store value system as the ‘digital currency’, which is accessible from ordinary mobile phones known as M-PESA.
A M-PESA account is a way to transfer funds to both M-PESA users and non-users, pay bills, and purchase mobile airtime credit for a small, flat, per-transaction fee. The affordability of the service has been a key in opening the door to formal financial services for the poor.
Read more at: SABC