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business Cashless economies- Fact or fiction?

705 There is no doubt that Covid-19 has accelerated digital and technology adoption across the continent, driving banks and other businesses to fast-track their digital transformation efforts and expedite creation of solid platforms for innovative solutions. One obvious manifestation of this has been the growth of online transactions and ongoing embedment of 24/7 banking. But the question remains: What lies ahead, as we approach what is expected to be a “better normal”? Digital banking in Africa 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 futur

Cashless Economies - Fact Or Fiction?

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