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When you buy a car and finance it, the asset you borrow the money against is the car. The same is true when you mortgage your house. Using the asset you are buying as collateral is part of the system.

But what happens when you are too poor to participate in the financial world, as millions of Africans are? What happens when a bank account and its monthly fees are too expensive? If you can’t even afford a bank account, how do you get into the financial system so you can buy yourself a new phone?..

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