African mobile money success highlighted
MOBILE| March 18, 2012, 5:37 p.m.
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.
MORE MOBILE NEWS
MTN and Ericsson lead the way with first LTE-U networkTo future proof its business, MTN SA, together with Ericsson, has successfully trialled LTE-Unlicensed (LTE-U) at MTN’s flagship channel store in Morningside, Johannesburg. Read More
Airtel Trace Music Star activations target residential areas in NairobiThe Airtel Trace Music Star activation contest has now entered its second week. Read More
MTN Ghana scores high marks on QoS ReportThe latest Ghana National Communication Authority Quality of Service (QoS) report reveals sterling performance by MTN Ghana among its peers in meeting all the QoS indicators and their respective thresholds for compliance. Read More
Glo Ghana large enough for 20m data subscribersThe new Head of Business of the newly upgraded Glo Mobile Ghana network, Mr. Augustine Mamuro, has said that the company can comfortably cater to over 20 million data subscribers. Read More
Mobile technology can set the world ablaze with innovation and opportunitiesWith investment and footprint in the continent, MTN is ready to partner and set the world ablaze with innovative ICT solutions. Read More
Airtel unveils Smart SpeedooAirtel Nigeria has unveiled SmartSpeedoo, a revolutionary service that allow customers experience real data while browsing at affordable tariff and enjoying free megabytes. Read More
MTN Business launches converged SME ICT offersMTN Business has introduced a range of converged business offers for small and medium businesses (SMEs). Read More
Cubot launches smartphone designed by Kenyan artistsInternational Mobile firm Cubot has officially launched its latest flagship smartphone in Kenya. Read More
Glo leads with 95% of new internet subscriptionsGlobacom has successfully consolidated the gains it made in 2015 as Nigeria’s preferred network for data services by garnering 95% of the new internet subscriptions in January 2016. Read More
MTN Ghana ends 2015 with impressive gains in voice subscriptionMTN Ghana continues to make giants leaps in the country’s telecom industry, maintaining its lead in Mobile Voice Subscription service. Read More
FEATURED STORYCriticism over Remita borne out of ignorance, says SystemSpecs
The CEO of SystemSpecs, the company behind the revenue-saving Nigerian Single Treasury Account (TSA) system, speaks to Biztechafrica.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSKeeping up with the mobile banking evolution
Africa especially has witnessed the trend of mobile banking, due to the well-known fact that today more people on the continent have access to a mobile phone ...