LAGOS, Nigeria—Africa is using digital finance as one means to stem the spread of COVID-19.
Governments and startups on the continent are implementing measures to shift a greater volume of payment transactions toward mobile money and away from cash, which the World Health Organization flagged as a conduit for the spread of the coronavirus.
“It’s an option facilitated by the boom in fintech that’s occurred in Africa over the last decade. By several estimates, the continent is home to the largest share of the world’s unbanked population and has a sizable number of underbanked consumers and small and medium-size enterprises, Tech Crunch said.