Abstract: With the growing popularity of Internet finance and e-commerce, mobile payment services grew rapidly in China in recent years. Meanwhile, in Africa, a financial innovation featuring mobile money has also developed dramatically in the past years. The mobile money transfer system changed many people's lives, improved financial inclusion and reshaped the financial sector of Africa. While mobile payments allowed many Chinese consumers to skip the stage of bank checks, mobile money has helped Africa to leapfrog by skipping both checks and bank cards, and allow customers without bank accounts to make payments. Therefore, the mobile money model can be seen as a novelty for us. This paper reviews the experience of mobile money development in Africa, including the concept of mobile money, its main functions and operational models, as well as regulatory policies. We finally draw some lessons from this case study for the development of China's rural finance and inclusive finance.

Full report ：Africa's Mobile Money and Relevance for China .pdf