Could WeChat become the only app that African internet users need?

WeChat

As technology hubs from Silicon Valley to Bangalore work hard at devising digital approaches to finance that could alter the global banking landscape, mobile banking penetration in China has already exceeded 390 million people. And for Chinese-owned Tencent Holdings, the world’s fifth largestInternet company, China’s 1.3 billion-strong market is just the beginning. The tech giant’s best-known social network, WeChat, is fast gaining traction in Africa, and mobile banking is one area in which its influence is spreading.

 

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