This Element is an excerpt from Africa Rising: How 900 Million African Consumers Offer More Than You Think (ISBN: 9780132339421) by Vijay Mahajan. Available in print and digital formats.

How African entrepreneurs are using cell phones and small-scale finance to drive remarkable business innovation.

Finance and communications are the foundations for successful markets. The rapid growth of cell phones and banking across Africa is not only an indication of the success of these industries but also creates a platform for further growth. Many small businesses have already been established by placing a cell phone and a microloan in the hands of industrious entrepreneurs....