African mobile money success highlighted

MOBILE

|
Image: By BiztechAfrica
African mobile money success highlighted

Africa’s mobile money successes will be the focus of the annual Mobile Money Africa conference to be held in South Africa in May.

The event, from 14 to 17 May in Johannesburg, will bring together all the stakeholders in the mobile money ecosystem as well as retailers, merchants and card associations.

Event programme director Sonum Puri says South Africa is not only a competitive mobile money market, but is a good representation of the different business models that are transpiring from banks, mobile network operators (MNOs), third party operators, social media and online retailers and payment providers. 

Puri says: “The event will be a great chance to show the mobile money ecosystem can grow to encompass many new stakeholders in the marketplace which means that people can take lots of examples from the South African market and apply to their own businesses.”

He says Kenya is a well known example of the tremendous potential and success of mobile money transfer on the continent with Safaricom’s M-PESA.

Sonum says MMT is also beginning to gain momentum in other parts of Africa: “Much has been documented about the potential of mobile money in East Africa, but for the first time, the Mobile Money Africa conference will be exploring the rise of mobile financial services in West African countries such as Senegal and the Ivory Coast. The event will also be looking at the integration of mobile money with online channels to penetrate the e-commerce market and tap into a new customer base.”

Nigeria in particular is predicted to be another big market for mobile money, as research shows that only 25 per cent of the Nigerian population has bank accounts or access to financial services. 

Sonum continues: “last May, the Central Bank of Nigeria issued licenses to sixteen mobile money operators and in the last couple of months we have seen a number of providers such as Monitise, Pagatech, eTranzact, and United Bank of Africa announce the launch of new mobile money services. The Nigerian mobile money market is already valued at $25 billion and mobile money users are expected to reach 709 million by 2015.”

Another country worth watching is Tanzania which is one of the fastest growing mobile money markets in the world. Puri says the country currently boasts mobile phone penetration of 49% and there are four active mobile money businesses, the largest of which is Vodacom’s M-PESA which has over two million active users.

Says Puri: “Visa recently unveiled a mobile prepaid product which will be offered by MTN in Nigeria, Rwanda and Uganda, other big growth markets especially for remittances. The Central Bank of West Africa is playing an active role in encouraging private sector players to roll out mobile money services and the Central Bank has also promoted the launch of the new Gim mobile service in West Africa.”

Mobile Money Africa 2012 forms part of the Connected Africa Forum, which will showcase the evolution of mobile lifeline services and applications in Africa, and highlight the evolving intersection between mobile money, mobile health and mobile agriculture.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE MOBILE NEWS

MTN recognised at Nedbank Sustainable Business Awards

MTN and Fenix International have been recognised at the Nedbank Sustainable Business Awards for a solar charging solution that’s improving the lives of communities without access to electricity and financial services in Uganda and Rwanda. Read More

Global Smartphone shipments reach 317m in Q3 2014

Analyst firm Juniper Research estimates that the number of smartphone shipments reached 316.6m in Q3 2014, representing 13.1% year on year growth and 5.5% quarter on quarter growth. Read More

Tablets improving workplace productivity

Dell today announced the results of its 2014 International Tablet survey of IT Decision Makers (ITDMs) indicating that current implementations of tablets in the workplace are good for business. Read More

MTN Foundation holds breast cancer screening in Enugu

In a drive to create renewed awareness about Breast Cancer, MTN Foundation (MTNF), the corporate social investment vehicle of MTN Nigeria, has taken its free breast cancer screening to residents of the South East geopolitical zone of Nigeria.  Read More

MTN Uganda receives US$100 000 towards community projects

MTN Group today recognised employees in Uganda for their selflessness and dedication towards improving the lives of ordinary people, including the blind, as part of this year’s 21 Days of Y’ello Care campaign, a popular employee volunteer initiative in MTN markets. Read More

Airtel partners with UNESCO for youth IT training in Gabon

Bharti Airtel has unveiled a new training programme to impart new technological skills to thousands of youth in Gabon in partnership with United Nations Educational, Scientific and Cultural Organization (UNESCO). Read More

Samsung donates 3,000 smartphones in support of the fight against Ebola

Samsung Electronics Co will donate 3,000 smartphones, worth about USD 1 million, to support the ongoing fight against Ebola. Read More

Tigo gives customers free 250MB data on Alcatel smartphones

Tigo Ghana is giving away free 250MB data and 60 minutes' talk time per month for a year to customers who purchase the latest Alcatel Pixi 2 handset. Read More

Huawei joins Vodafone to bolster E-learning in refugee camp

Huawei has come out in support of an initiative to supply over 18,000 refugee students in Africa’s largest refugee camp, Dadaab in Kenya, with tablet PCs for education. Read More

SA author writes acclaimed novel using BlackBerry smartphone

A South African businessman and author has written an entire novel using his smartphone. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Growing African focus on data securityGrowing African focus on data security

Beachhead Solutions’ new SA and Mauritius country manager explains the challenges and solutions around securing customer data and compliance with new personal information legislation.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.  

COMPANY NEWS

Schneider Electric off-grid, on-profit solutions to create social change in African rural communitie

Schneider Electric South Africa has set itself a target to create access to energy for 20,000 Africans by the end of this year. 

SAP accelerates shift to the Cloud with 41% revenue growth in third quarter

SAP has once again raised its revenue outlook, reporting broad market adoption of SAP HANA and its ‘Run Simple’ strategy validated.