NOTES

PREFACE

1. Jacques Bughin et al., Lions on the Move II: Realizing the Potential of Africa’s Economies, McKinsey Global Institute, September 2016.

2. Mutsa Chironga et al., Roaring to Life: Growth and Innovation in African Retail Banking, McKinsey & Company, February 2018.

3. Mutsa Chironga, Hilary De Grandis, and Yassir Zouaoui, “Mobile Financial Services in Africa: Winning the Battle for the Customer,” McKinsey & Company, September 2017.

4. Figures based on McKinsey analysis of data from Analysys Mason (http://www.analysysmason.com) and Dataxis (http://dataxis.com).

5. Figures based on McKinsey analysis of data from Analysys Mason (http://www.analysysmason.com).

6. Alexandra Dumitru and Raphie Hayat, “Sub-Saharan Africa: Politically More ...

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