An interesting article on fortune.com about a South African companies MTN (Mobile Provider) Standbank anf Fundamo (Technology Provider) providing cheap banking services for the many millions of poor people. I think this is a great initiative as this assists in building an economy and with low transaction fees it make perfect sense. I see that Fundamo also provides services in other countires in Africa as well.

This concept has the possiblity to revoluntionize banking for the poor, which as a matter of interest constitutes as large part of planet earths population.

Imagine that every person on earth has the opportunity to save money and in turn assist others. This is one way to assist in alievating poverty and bring the masses closer to a middle class lifestyle. This would take a few decades but at least there could be hope at the end of the tunnel.

Talking about poverty kiva.org (nothing to do with me)  assists people with loans by leveraging other people to borrow through the site.

Maybe kiva.org and Fundamo should join forces and create a new mobile banking system. 

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