Different causes stand behind banks’ profitability challenges: legacy non-performing loans, excess banking capacity, growing competition from non-banks, ineffective cost-control and slow adjustment to new business models in the context of a low interest rate environment, are among the most important ones.
At the end of 2018, active mobile money accounts were estimated at 13.1 million accounts. 8. In  collaboration with payment service providers, financial  technology companies (fintechs) have designed innovative products and services to promote digital savings, lending and investments to unbanked customers at affordable costs.