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Tuesday, February 17, 2009

Mobile banking initiative for the 'unbanked'

Hot on the heels of a major commitment linking mobile phones and health services comes a $12.5 million investment in mobile banking. The Bill & Melinda Gates Foundation is supporting the Mobile Money for the Unbanked (MMU) programme, which will encourage the expansion of reliable, affordable mobile financial services to people who don't have bank accounts. The MMU programme will focus on Africa, Asia and Latin America with the goal of providing mobile financial services to 20 million previously 'unbanked' people by 2012. [Press release]

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