Africa leads the world in sending, spending, and saving money via mobile phones.

The latest World Bank report does not examine why this growth in mobile money accounts has been so strong in the region. But one explanation might be microfinance, the practice of making very small loans to entrepreneurs, often in developing economies.

In 2007, Safaricom launched M-PESA, a pioneering microfinance program built on mobile cash transfers. It has since grown to be the dominant payment technology in Kenya and Tanzania.

Check out this link for more: African leads (datalab)