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Will Africa turn cashless?





While cash is still predominantly used for payments across the African Continent, great strides have been made towards the realisation of the so-called “cashless society”. Of course, Covid-19 has been a key catalyst, with lockdowns, health and safety protocols, and merchant/commercial restrictions significantly limiting physical interactions and thus reducing cash-based transactions. The fact is, going cashless, or at least “cash-lite”, is possible and remains a likely future scenario, given the development and trends we are seeing.


Banks and other financial institutions, however, will need to provide incentives and demonstrate unparalleled convenience in order to encourage consumers to make the switch in a sustainable way. Additionally, and perhaps more importantly, regulators will need to create the requisite policy frameworks that stimulate and support adoption, as well as safeguarding consumer interests.

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The War Against Cash - 06/10/2021

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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