I recently came across this very interesting article on the impact of mobile banking via cell phones in Africa. Essentially, Africans can transfer money within the “social network” of their fellow cell phone users via their mobiles handsets themselves. As it looks they are also able to do this cross-border and soon across network boundaries.

It is not only a beautiful example of how concrete demand can sometimes drive innovative, practical, and evidently profitable solutions. It also shows how social networks can sometimes take on a form we don’t expect - and it’s a fascinating one as the ubiquitousness of mobile phones in Africa should allow it to scale very quickly.

On a side note, I am also wondering what the effects of such technological achievements will be for grant-making foundation’s work in Africa. Will they have to embrace new technologies like these to stay abreast of the challenges to their working field?