Ethiopian mobile money app to help jatropha farmers get paid

In Ethiopia, Kenya’s Standard newspaper reports that a local entrepreneur has developed a mobile money app called Amole that he is rolling out among jatropha farmers supplying API Renewable Energy. The company buys jatropha nuts from half a million farmers and believes the app will facilitate trade for the unbanked in rural areas. The company is already working with international money transfer providers to help users of the app send and receive money internationally and expects to venture into mobile lending in the future as well but it has to establish sufficient reserves from deposits first before it can do so.