This paper presents an assessment of existing mobile application (app) business models that are targeted at people living at the base of the pyramid (BoP) or that are suitable for people living at the BoP. The purpose of the paper is to address specific pain points for app developers and to provide practical, actionable advice. The recommendations of this paper are specific to each of four countries: Ghana, Mozambique, Nigeria and Zambia. In assessing the app markets in each of the four countries, it quickly becomes clear that there is a wide range of business models. Part of the business model is unique to the sector and to the business problem that the app is attempting to solve. In order to provide maximum value for app developers, this research focuses on three areas that are common to all business models: *Revenue sources - How to generate revenue is at the heart of any business model. App developers have to choose how to make money from their products and services. The options include in-app advertisement, pay per download of content or app, in-app purchases, upgrade of a free app to a more feature-rich one in exchange for a fee (freemium) and subscriptions. *Distribution channels - The availability of a mobile application is dependent upon its distribution network. Distribution can take place either via an app store, a mobile operator (through USSD services, for example) or through a local distribution network. *Payment facilities - The main payment options for app developers include premium SMS, airtime transfer, mobile money and bank-based payments such as electronic transfers and payment by cheque, or with debit and credit cards. In addition to an analysis of the three common business model areas, there is a brief assessment of the significant role of incubators in in supporting app developers. However, the impact of incubators is only partially realised and the paper has several recommendations. The key findings in each of the three business model areas as well as for app incubators are: *Revenue sources - Multi-sided platforms are an under-exploited business model. Providing a service to consumers that is paid for by businesses - the other side of the platform - means that apps are more likely to make a profit and be sustainable. Of course, the multi-sided model is dependent on addressing a problem or need experienced by both sides of the equation: consumers and businesses. *Payment facility - Premium SMS is the ideal payment facility because it reaches all mobile subscribers regardless of phone type. However, premium SMS is challenging because the MNO revenue share can be very high. Nevertheless, the finding of this report is that rates are negotiable and MNOs are beginning to realise that their high revenue share is slowing market growth. At the same time increasing Smartphone penetration and mobile money adoption rapidly creates alternative payment facilities, outside MNO control. *Distribution platform - MNO stores are ideal distribution channels because of their access to local subscribers, but this is unrealised. As a result, independent distribution is the most common option. For feature phones, the Ovi Store is a viable alternative but this is only an option in Nigeria where the Ovi Store has a local presence. As smartphone adoption increases, Google Play will become dominant, and there is a commercial opportunity for Google in terms of registering developers as merchants. Currently, this is not possible in any African country. *Incubators & hubs - Every hub or incubator visited by the team was staffed by inspiring and motivated personnel. It is clear that the more structured the environment, the more beneficial the process will be for developers in terms of providing specific programs at regular and planned intervals. The target is to better mix the commercial realities of launching a business with the technical skills already available in each of the hubs. This paper identifies business models for mobile applications that target the BOP, i.e., those that live on less than US$2.5 a day and that are revenue generating in in Ghana, Nigeria, Zambia and Mozambique. The key theme informing the analysis was as follows: can an environment be created that would support an explosion of mobile applications such as in Europe and North America? There is clearly an opportunity - in 2012, the mobile application economy was worth US$53 billion and is expected to expand at a 28% compound annual growth rate up to 2016, reaching US$143 billion. In comparison, the app economy in Africa is minuscule, and the likelihood of the number of mobile applications growing explosively is low. GitHub, an online resource for developers to store code, shows that only 0.12% of its users are from Africa out of a developer base of nearly 4 million.