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African Borrowers Turn On Cellphones for Covid-19 Financial Lifelines

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December 2, 2020
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African Borrowers Turn On Cellphones for Covid-19 Financial Lifelines
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Shoppers combating Covid-19 shutdowns throughout sub-Saharan Africa have discovered a brand new place to get money to make ends meet: their cellphones.

Tidahy Jacquot, 65 years outdated, a retired ministry of transport employee who lives in Madagascar’s capital metropolis Antananarivo, hasn’t obtained any authorities grants or help and has been unable to make his regular revenue doing odd jobs. However he did get a mortgage of 60,000 ariary, equal to about $16, by way of his account with French telecom large Orange SA.

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