Day: July 6, 2019

Will Facebook’s digital money Libra be good for Africa?

Image copyright
Getty Images

In our series of letters from African journalists, technology writer Andile Masuku looks at what the launch of Facebook's digital money could mean for Africa.
From early next year, Facebook intends to let its two billion-odd users – more than 139 million of whom are in Africa – make digital payments through its apps and popular messaging service WhatsApp using a new crypto-currency called Libra.
It could have profound implications for a continent which receives a huge amount of remittances – and is one of the least-banked regions of the world, something that has allowed for other innovations like mobile cash payments to take hold in Africa.

Andile Masuku I relish the prospect of a network like Libra permanently disrupting the lucrative cash remittance businesses of large banks and money transfer services”Andile Masuku
Technology journalistAs a Zimbabwean living in South Africa, I have become numb to the daylight robbery that ensues whenever I rec..