Tanzania: Mobile transactions outsmart banking

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The newly introduced cellphone-to-cellphone moneytransfer has made impact on the lives of thousands of people in Tanzania who cannot access banking services.

M-PESA, meaning M for mobile and Pesa for money in Kiswahili, is one of
the world`s first cellphone-to-cellphone PESA transfer services for
people who do not have access to conventional banks.

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