As a result, leveraging on mobile phone technology as a channel for financial services not only overcomes the distance barrier but also presents convenience as well as cost effective platforms for financial services. Africa has continued to witness increased competition and diversity in the MFS space.
During the past year or so, a number of central banks have temporarily exceeded their targets, the most recent notable example being the Bank of England. Pressures emanating from oil and food prices are a global phenomenon and are posing a challenge to many central banks. 3.