© 2019

The Regulation of Mobile Money

Law and Practice in Sub-Saharan Africa


Table of contents

  1. Front Matter
    Pages i-xxiii
  2. Sunduzwayo Madise
    Pages 1-14
  3. Sunduzwayo Madise
    Pages 15-61
  4. Sunduzwayo Madise
    Pages 111-147
  5. Sunduzwayo Madise
    Pages 149-200
  6. Sunduzwayo Madise
    Pages 201-227
  7. Sunduzwayo Madise
    Pages 349-375
  8. Back Matter
    Pages 377-423

About this book


The emergence of mobile money and other new forms of payment has changed the sovereign foundations of money. Starting as a Department for International Development  funded project in Kenya, mobile money has now spread to many developing countries. This book looks at the regulatory issues that mobile money poses, and the potential risks to the financial system. It undertakes a comparative study of mobile money regimes in Kenya, Malaŵi, Tanzania, and South Africa. Although the main study is on Malaŵi, the lessons learnt are valuable to Sub Saharan Africa in understanding the regulatory issues surrounding mobile money. The main argument that this book makes is that the traditional regulatory architecture of supervising the financial services is ill-suited to supervise new forms of money like mobile money. With no requirement for a bank account, mobile money is not subject to prudential regulation. Mobile money is now considered a key developmental tool to achieve financial inclusion among the poor, rural based, unbanked, and underbanked. As opposed to traditional additive forms of financial inclusion, mobile money is transformative. In most jurisdictions where it has been launched, mobile money has largely been regulated using light-touch, with regulation following innovation. This work, however, proposes an approach based on the concept of really responsive regulation. This approach is best suited to embrace mobile money as it passes from the pre-financial inclusion to the post-financial inclusion phases of its evolution.  This book will appeal to students and academics in the financial regulation field. 


mobile money payments m-money financial services financial inclusion financial regulatory framework financial regulation of mobile payments mobile payments financial regulation

Authors and affiliations

  1. 1.University of MalawiZombaMalawi

About the authors

Sunduzwayo Madise  recently finished his PhD at the University of Warwick, UK, and holds BSc and LLB degrees from the University of Malaŵi and an LLM from the University of the Western Cape, South Africa. He also holds a Post Graduate Degree in Higher Education from Warwick. He is currently the Dean of the Faculty of Law, University of Malaŵi. Sundu is also a Fellow of the Higher Education Academy, UK (now Advance HE). A former engineer, his research interests lie in the intersection of law, technology and finance. 

Bibliographic information

  • Book Title The Regulation of Mobile Money
  • Book Subtitle Law and Practice in Sub-Saharan Africa
  • Authors Sunduzwayo Madise
  • Series Title Palgrave Macmillan Studies in Banking and Financial Institutions
  • Series Abbreviated Title Palgrave Macmillan Studies in Banking and Financial Institutions
  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-3-030-13830-1
  • Softcover ISBN 978-3-030-13833-2
  • eBook ISBN 978-3-030-13831-8
  • Series ISSN 2523-336X
  • Series E-ISSN 2523-3378
  • Edition Number 1
  • Number of Pages XXIII, 423
  • Number of Illustrations 9 b/w illustrations, 10 illustrations in colour
  • Topics Banking
    Development Finance
    International Finance
    Innovation/Technology Management
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking