Cash shortages cripple mobile money

The prevailing cash shortages have suffocated mobile money subscribers, who are failing to get their money or do cash-out transactions.

The crisis, which now makes it almost impossible for subscribers to make cash-out transactions even for as little as $5, is a setback to the financial inclusion plan.

Mobile money was touted as the key driver to financial inclusion by virtue of its wide network coverage.

Indications are that customers were failing to cash out money they would have received through the mobile money platform as the agents did not have cash to disburse to customers.