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International Business Times
International Business Times
World
Romuald NKONLAK

Ancient Community Banking Enters Digital Age In Cameroon

Popular shared savings schemes known as tontines have shifted on to digital apps (Credit: AFP)

Joseph Ngono's face lights up with a smile as he looks at his smartphone, where a payment worth $830 has just appeared in his digital wallet.

Like many Cameroonians, the computer scientist pays in each week to a shared savings fund known as a "tontine" -- an ancient system that start-ups are now bringing into the digital age.

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