Banking on satellites in Africa

19 June 2013 - Satellites are making it possible to transfer money between remote locations in sub-Saharan African countries that are otherwise unconnected to the outside world. An ESA project looking at ways to use satellites for services in developing nations where land networks are simply impossible or non-existent gave rise to the Agency's SatFinAfrica pilot project in 2011. It was so successful that a company called SatADSL was set up in Belgium early last year to provide satcom for financial services to Africa. Microfinance offices in different villages, linked via satellite, allow people to transfer or withdraw money with ease. The satcom service is sold via local African distributors who resell it to the microfinance offices on behalf of SatADSL. Currently, SatADSL serves more than 100 offices and the number is growing. Each branch has its own satellite terminal.