IFC, a World Bank Group member, has encouraged financial figures to further promote mobile financial services within Cote d’lvoire, reports African Brains. The Ivorian market for mobile phone finance services represents one of the biggest and more diverse markets in West African economy and Monetary Union region. During the financial congregation, WBG members discussed the market’s growing potential and the opportunity to provide services for low-income households and small businesses. The mobile penetration amongst consumers in Cote d’lvoire is quite high, at 90 percent, however only 14 percent of residents have access to financial services.
Cassandra Colbert, IFC resident representative in Cote d’lvoire, said, “Improving access to finance is important for supporting share prosperity in Cote d’lvoire. IFC and The MasterCard Foundation want to help local financial institutions realize the opportunity in Cote d’lvoire for the development of agent banking and mobile financial services that will accelerate the reach of financial services to those currently without banking services.”
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