Western Union Sees African Mobile-Money Transfers `Snowballing'

Kenya’s Mpesa mobile phone-based money-transfer service is becoming more sophisticated and will soon be growing quickly across the continent, according to Western Union Vice President for Southern and East Africa Richard Malcolm.

“It’s jumping to a new level,” Malcolm said in an interview in Cape Town Wednesday. “It’s expanding its own ecosystem. They’re improving in a direction that meets the needs of the customer. It’s a good story. We should see more of those.”