“M-Pesa clones in various forms have been tried right across Africa. Nigeria with 160 million people and 60% GSM penetration has long been regarded as the ultimate market for M-Pesa like services. With 20 registered mobile money operators, this was to be the market to be. Or it should be.
Two years down the line, there is no M-Pesa success replica in Nigeria and a few are beginning to question whether there will be."
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