African neobanks build a model for the unbanked.

"The easier you make it for customers to take money out of their account, the less likely they are to want to withdraw everything and live in cash, and the more comfortable they are keeping money in their account", argues Jonker. Although Tyme started out as a mobile money project for South African mobile phone group MTN, Jonker notes supermarkets can handle much more cash than the small informal stores mobile money firms typically use. The continental ambitions of Kuda founder and chief executive Babs Ogundeyi go much further than Kuda's 1.4 million customers in Nigeria today. [Extracted from the article]