This research aims to pursue industrial cooperation and coordination between African countries and South Korea through the analysis of Ghana and Uganda’s mobile financial markets and its surrounding environment in Africa, specifically Kenya. With the support of the international community, African economies and their industries have begun to bloom. However, addressing the totality of the financial sector, there is still a long way to go due to limitations in distance, institutional infrastructure, and social agreements. Even so, Africa is headed on the right path, especially with the proliferation of mobile phones. In Kenya, many are enjoying the benefits from finance services offered, i.e. money transactions to glossary shopping, through Vodafone's M-PESA service. It can be said that the African mobile finance services are considerably mature compared to that of other regions.
Chapter 2 analyzes the African financial markets, its supervision system and operating structures. It should be stated that the United Kingdom and Germany had a significant impact on Africa’s mobile finance services. M-PESA was established by the UK’s overseas development agency, DFID, and Vodafone. The institutional framework was established by Germany’s GIZ program.  Success of M-PESA, format of M-PESA became the de-facto standard in Africa and other developing countries. Using Kenya’s market as a basis for this research, as the financial mobile services is considered most mature, the research was extended to Ghana and Uganda’s financial sectors, including their mobile phone environment.
In Chapter 3, this paper examines the presence of ODA agencies in Africa and examines the financial sector supported by DFID, USAID, GIZ, and related multinational consortium. The DFID took an active role in designing and implementing the service, USAID assisted with pre-developed services, and GIZ focused on administrative policy as well as institutional support. Along with the agencies aforementioned, individuals and MNCs in the private sector, such as Bill Gates foundation and multinational corporations like VISA, Master card and Citibank, supported African financial inclusion issues on the behalf of international consortiums such as CGAP, Making Finance Work for Africa(MFW4A) and others.
Chapter 4 addresses the financial sector in Ghana and Uganda, including mobile phone services through the comparison of financial institutions and mobile service providers. This paper also covers a survey conducted on individual attitudes of mobile finance services through a consumer behavior model.
Resulting the need for the presence of oversea donors in both countries. Lastly, a discussion on the strategies that need to be effected for Africa through perspective ODA agencies and corporation in Korea.
In Chapter 5, supported by the analysis thus far, this paper provides directionality and a detailed scheme for Korean aid agencies and companies. The suggestion for short-term strategies to target the African market is the provision of infrastructure and technical education. Korean ODA agency and government should provide platforms for public-private cooperation with the private sector.
For medium and long-term strategy, the Korean government must support companies entering Africa, also in addition to, Korean companies offering infra structure and services. Furthermore, financial institutions should enter the African market to support Korean companies for sustainable activities in Africa.
To conclude, this research will contribute to the Korea’s political economic interests, Africa’s financial inclusion and further development of Africa. One of the key challenges for development is financial access, providing ease of access to finances could assist in the alleviation of poverty. As there has been a proliferation of mobile phone networks throughout the developing nations, the mobile finance system presents itself as a highly opportunistic means to resolve the challenge of financial inclusion and positions itself as a platform for new opportunities.