Mobile banking innovation goes through the Congo.

That’s right, the Democratic Republic of Congo (DRC); ranked 151 out of 159 on the Global Freedom Index, home to the bloodiest war on Earth since World War II (The Second Congo War) and generally viewed as a corrupt nation that permits horrific child labor practices. It’s also the dominant global producer of cobalt, an essential element in making the lithium ion batteries used in mobile phones (including Apple products). Currently, the US and China produce 0.4% and 1.2% of the world’s cobalt, respectively. The DRC produces 55.4%. Consider that the next you evaluate the upside and risks of the mobile banking revolution.

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