Banks Battle Telcos for Cash in South African Townships
![bank](https://domainingafrica.com/wp-content/uploads/2013/06/mpesa-safaricom.jpg)
Standard Bank Group Ltd. (SBK) hired Itumeleng Heymann to persuade her neighbors that for about $6 a month, their cash would be better off with Africa’s largest lender than in its current hiding place: under the bed. For millions of Africans, a simple Nokia mobile phone acts as a bank account, allowing them to …