Role reversal as African technology expands in Europe

Africans have long used technology developed abroad, but now a Kenyan cash transfer network which bypasses banks is being adopted in Europe. The M-Pesa mobile money transfer system which allows clients to send cash with their telephones has transformed how business is done in east Africa, and is now spreading to Romania. M-Pesa -- or ‘mobile money’ in east Africa's Swahili language -- was introduced in Kenya in 2007 by Safaricom, the country's largest mobile telecommunications company, in partnership with British giant Vodafone. Since then the service has grown exponentially, with about $40 billion (30 billion euros) flowing through the service in Kenya alone. In Kenya, the system has become a part of daily life, with more than 18 million customers, and is used by almost two-thirds of the population with more than eight million transactions daily. The network allows customers to bypass the traditional banking system, using an application available on the simplest of mobile phones to pay utility bills, buy a drink in a bar, or send cash to family and friends, according to AFP.