Monday, July 09, 2007

Mobile devices like cellphones have the potential to effectively bring financial markets to the countryside, allowing banks and other lenders in urban areas to provide services like loans and savings accounts to a new population, according to a report by Vodafone and Nokia published last week.

Hughes said that Vodafone planned to create partnerships with traditional microfinance institutions, adding that it was testing a program in Afghanistan. "But the big one for Vodafone," he said, "is India," where the company recently bought the carrier Hutchison Essar.
http://www.iht.com/articles/2007/07/08/business/micro09.php

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