Recent examples in Africa include mobile banking (access to basic payment services through mobile phones), and new players in the financial systems such as deposit taking microfinance institutions, and agency banking (where banks are allowed to engage third parties to provide certain banking services on their behalf without having to put up brick and mortar).
Ladies and Gentlemen, this expansion must be done while paying attention to the users of financial services. Adequate financial literacy should be infused to both businesses and households through development of financial skills and establishment of frameworks for consumer protection. The book contains a series of indicators on access, size, and efficiency of financial services in Africa.