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.



Francis Mawindi - March 27, 2012, 11:30 p.m.

I need more information regarding the African Mobile Money market and registration details and procedures for the May 2012 Conference in Joburg, SA.

Share the News

Get Daily Newsletter

comments powered by Disqus

MORE MOBILE NEWS

Mobile telephony makes inroads into rural DRC

Mobile telephony continues to make its way – slowly but triumphantly – into the rural areas of the Democratic Republic of Congo (DRC). Read More

Zim moots new taxes on telecoms

Zimbabwe’s Minister of Finance and Economic Development, Hon. PA Chinamasa, has proposed new taxes on airtime, data and handset costs among moves to raise additional revenue. Read More

Samsung opens three retail outlets in Abuja

Samsung Electronics West Africa, in partnership with accredited local partners, has stepped up its nationwide market expansion drive in Nigeria with the opening of three more direct-to-consumer stores in Abuja. Read More

Microsoft urges SON to act on fake imports

Microsoft has expressed dissatisfaction over the influx of fake and substandard mobiles into Nigeria. Read More

Vodafone Icons Remix holds final auditions in Accra

Ghana’s capital city, Accra, came to a standstill when the final audition of the Vodafone Icon Remix edition hit town.  Read More

STK Accessories expands in Nigeria

STK Accessories has announced further success in Nigeria with the launch of four product lines on Jumia.com. This latest announcement follows the brand’s launch with Sapphire distribution earlier this year. Read More

Samsung showcases biometric scanner-enabled Galaxy Tab S

Samsung Electronics has announced the availability of its new flagship tablet, the Galaxy Tab S, in Nigeria.  Read More

MTN Cameroon launches youth development programme

MTN Cameroon has announced the launch of the YEP programme to develop Cameroonian youths.   Read More

Orange, EmmaĆ¼s International launch phone recycling facility in Abidjan

Orange and Emmaüs International have launched a fifth mobile collection facility in Africa, in Abidjan, Côte d’Ivoire.  Read More

Mobile device greenhouse gas emissions surge

Smartphone charging will consume almost 14,000 Gigawatt-hours of dirty energy by 2019, says a new report. Read More

PRESS OFFICES

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

FEATURED STORY

MFarmer SMS redefines market access for Ugandan farmersMFarmer SMS redefines market access for Ugandan farmers

Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures. 

IN DEPTH

NIG President speaks his mindNIG President speaks his mind

Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.

COMPANY NEWS

VMware announces general availability of new solutions for building, managing and protecting softwar

VMware has announced the general availability of VMware NSX 6.1, VMware vCenter Site Recovery Manager 5.8, VMware vCloud Suite 5.8, VMware vRealize Operations Insight, VMware vRealize Suite ...