Vodafone to launch mobile phone money transfer service in Afghanistan

0 Comments | AFP, February, 2008

BARCELONA, Spain (AFP) — In many poor and emerging countries, the lack of banking infrastructure but widespread use of mobile phones has created a business opportunity that network operators are keen to exploit.

On Monday, British operator Vodafone announced at the industry's annual trade show in Barcelona that it would launch a money transfer service in Afghanistan after the successful introduction of a similar initiative in Kenya.

An estimated 1.6 million people have begun using the Vodafone scheme in Kenya since its launch in March last year. In a country of 10 million mobile phone users, there are only 400 bank outlets and 600 automatic teller machines.

"This is really the early days, but when you see the low banking penetration in emerging markets,...