Editor,

RE: "How mobile money demystified Africa for investors” (The New Times, September 18).

The primary reason for the failure of M-Pesa type money transfer system in South Africa is technological and partly regulatory – tougher banking rules. South Africa’s financial services sector is much better developed than in the rest of Africa, thus reducing the need for mobile banking services. It is same reason M-Pesa would not succeed in, say the US or Britain. Think ubiquitous use of cards and e-commerce. It is cashless and better regulated.

Imboko Ndiranga