Meet the Man Forging Africa's Cashless Future


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Meet the Man Forging Africa's Cashless Future



Tayo Oviosu has plans to migrate cash-reliant consumers in Nigeria and Ethiopia onto his brand-new digital platform, one that also allows users to trade stocks and bonds, too. Many people in African countries rely solely on cash to handle their transactions, but Tayo Oviosu has an idea to change all that—and not just in Africa.

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19 Comments

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  1. Amazing. This sort of "leap" in tech is always interesting. Here in Brazil most of the low-income population didn't get to have a computer at home, and when the economy got better in the late '00s, people went directly to smartphones and that was their first easy access to the internet like we normally use, available 24/7. This is similar to Nigeria now, as they won't go through classic banking services with credit cards etc., they'll upgrade from almost 100% cash to pay for things directly from their phones. That's quite nice, hope his company grows, an African-owned company is very welcome in the tech industry.

  2. You're on your own. This is the same slippery slope that happened to Venezuela and what ended up happening was instead of cash being abused the flow of digital currency was abused which was even more detrimental.

  3. This is a commercial Band-Aid to the illusion that you don't need more police. Yes currency monitoring is important but be weary as other intellectuals also know of this system. So now you're going to need cyber monitoring and that costs a lot of money as well and those people also have issues with ethics.

  4. But MPESA in Kenya has been doing all that for years… why does MPESA get less recognition in this article? We've been investing in stocks, t-bills, and govt bonds using MPESA for years now. Seems to me like he just copy-pasted the MPESA platform.

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