Mobile banking refers to financial transactions conducted over a mobile device. Mobile banking has the potential to reach more people, at a lower cost, and with increased convenience than traditional “brick and mortar” banking services that rely on fixed branches.

With the rapid global expansion of mobile technology, mobile banking is helping vast numbers of previously excluded people access financial services. Mobile network operators, governments, and financial institutions, ranging from large commercial banks to microfinance institutions, recognize and have begun to exploit the potential of mobile banking. A number of governments and their central banks have also embarked on “cash-lite” policies to reduce the use and, therefore cost, of cash in their economies.

How can mobile banking be effectively used to mitigate against the current cash shortages in Zimbabwe?