Bill Gates on the move to Help the Third World With Cellphone Banking

February 20th, 2009 | No Comments | Posted in Digital News

The Bill & Melinda Gates Foundation has donated $12.5 million to support 20 projects in Africa, Asia, and Latin America. The goal is to Supply 20 million unbanked people with mobile financial services by 2012. The Mobile Money for the Unbanked (MMU) will work with mobile operators, banks, finance institutions, government to encourage affordable mobile financial services to the unbanked.

This venture has been with The GSMA, a worldwide consortium of mobile industries, and the Bill & Melinda Gates Foundation. The initiative is known as the Mobile Money for the Unbanked (MMU). The Bill & Melinda Gates foundation believes that setting aside small sums in a safe place allows people to guard against risks, build assets, and provide opportunities for the next generation. Source Bill & Melinda Gates Foundation

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