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The purpose of this paper from IFC is to describe trends in the growing number of innovations in the mobile money and digital payments space, and to understand how these simple systems are evolving to deliver a more effective and diverse portfolio of financial services. We have intentionally focused on innovations that have practical applications for financial inclusion in Africa.

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused exclusively on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.

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