The study explains the success of digital financial services (DFS) in Kenya and presents challenges and opportunities for the development of DFS in the seven other countries where the study took place: Benin, Cameroon, Mozambique, Nigeria, Senegal, Uganda and Zambia. The study is based on the methodology of the UNCDF programme MM4P (Mobile Money for the Poor), for understanding the potential for markets in digital financial services. A key objective was to analyse whether the EIB (and other investors) could find opportunities linked to the development of DFS through a debt and/or equity investment in Mobile Banking Platforms. However, market participants needing funds at a scale viable for EIB turned out to be rare.
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