"Its all about helping the poorest and one thing they don't have access to is bank accounts." - Bill Gates

I hope we have people from Africa continent here on Steemit reading the post in order for us to understand the truth behind the statement of Bill Gates.

My own experience with countries like Nigeria, Ghana, Kenia and others is most poor people don't trust banks at all, so even when banks do try, they do not get sufficient customers. It are cash economies; cash is what the poor people trust. The poor people may trust their mobile phone operator more than banks and therefore the electronic money services they offer may be used a little bit more than banks. These services uses SMS to transfer money from 1 person to another (services like mPesa); the money itself resides on users prepaid account of the mobile phone company, ie they are now kind of bank.