One of the measures encouraged in African countries to stem the spread of COVID-19 is to
limit contact with cash in financial transactions, in favor of mobile money,
e-payment and mobile banking. And even if the risks of contamination through banknotes
are debated, banking institutions and telecom operators across the Continent are multiplying the campaigns of
promotion of technological financial solutions.
“I think […] many [African] countries that have witnessed the benefits of the cashless economy
will be inspired by it. It's inevitable ! predicted Ismail Ahmed, CEO of World Remit in an interview with
La Tribune Afrique in October 2017, speaking on the stage following the mobile finance boom. Today,
less than three years later, the Continent is almost compelled to encourage greater penetration of
mobile financial transactions. In recent days, from North to South, from East to West of Africa,
telecom operators and banks are encouraged to favor digital transactions - mobile money
and mobile banking- to limit contact with cash. Orange, MTN, Safaricom, Airtel,
Vodacom have all started making arrangements to boost their remote services, sometimes at the
demand of financial authorities and governments. Reduction or suspension of transaction fees
money transfer between individuals, expansion of the ceilings for free transactions, ... are all
measures adopted. In Egypt, the central bank goes so far as to ask for free prepaid cards
during six months. As for the banks, it is through press releases that they make users aware of
across the Continent on the need to favor electronic services. It is about "avoiding as much as
possible non-essential travel on the sites through the use of new technologies, in particular
e-banking, sms-banking [...] payments by credit card or check, the objective being to
reduce concentrations of people and resort to the least possible handling of banknotes
bank," said Daouda Coulibaly, president of the Association, in a statement on Monday.
professional of banks and financial institutions in Côte d'Ivoire (Apbef-CI). Reply to a "
unusual, extraordinary and difficult period” From the boom of the pandemic, the transmission of the disease
via banknotes has caused debate, against a backdrop of divergent scientific opinions. If some -like the
researchers from the University of Ruhr- estimate that the COVID-19 would resist for several days on the
surfaces, others think that over time, the risk of contamination deteriorates. In China, the question
was taken at face value with, in particular, the destruction of banknotes from important households in the
disease or more simply their disinfection. The Americans, for their part, systematically highlighted
quarantine, dollars from Asia. To cut the debate short, the World Health Organization
(WHO) considered hand hygiene as the “best protection”. While on the Continent the measures
taken to counter COVID-19 are not always strictly respected by the population - the Minister
Cameroonian Health still reported it on Twitter on Tuesday-, telephone operators and banks
prefer to limit the risks as much as possible. “This period is unusual, extraordinary and difficult. [...] We
will continue to watch the situation closely, in order to adapt, for the good health and well-being of
all of our customers, employees and communities,” Ade Ayeyemi said in a statement.
CEO of Ecobank Group.