Mobile money in Africa comes in different flavours. The sophisticated sort, exemplified by services such as m-Pesa in Kenya, allows account-holders to transfer legal tender electronically to fellow account-holders by entering commands on a mobile phone. Popular though such services are, they have not stopped an older form of mobile money flourishing. This sort uses pre-paid mobile-airtime minutes as a de facto currency that can be transferred between phones, exchanged for cash with dealers who rent out phones, or bartered for goods and services.
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