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

Safaricom to lower Kenya - Rwanda roaming rates

Safaricom has announced that it is set to lower the cost of calls and roaming rates between Kenya and Rwanda, with effect from the 1st of October 2014. Read More

Hunt on for Africa’s music talent

Bharti Airtel has partnered with TRACE Music Star and global recording icon Akon to roll out what it describes as the largest mobile musical competition in Africa. Read More

Blu Telecommunication unveils Founders Campaign at Accra Mall

Blu Telecommunication, one of three companies authorised by the National Communications Authority to provide 4G internet services in Ghana, is gearing up for launch.  Read More

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

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

iProcure delivers inputs to farmers’ doorsteps using ICTsiProcure delivers inputs to farmers’ doorsteps using ICTs

An innovation dubbed iProcure is already being used by several agro input firms which are now relying on it to distribute their products to farmers. 

COMPANY NEWS

Schneider Electric signs exclusive off-grid solar distribution agreement with Zimbabwean firm

Schneider Electric has announced the signing of an exclusive agreement with Samansco, a Zimbabwean renewable energy, back-up power and appropriate technology company.

SAP Innovation Helps The Global Fund Fight AIDS, TB and Malaria in Africa

Extending a longstanding partnership, SAP is a founding member of The Global Fund’s new Innovation Coalition to support disease prevention and treatment.