The mpesa mobile money transfer system, hugely popular in east africa, is being scrapped in south africa, which for many pundits comes as a surprise, writes the bbcs lerato mbele. In 2005 the switzerlandbased banking group international commercial bank. Download this app from microsoft store for windows 10 mobile. Africa is the secondlargest continent, after asia, in size and population.
Mtns mobilemoney offering must adapt to south africas urban and banked population. Mobile phones and economic development in africa american. While its been that way for years, the world banks latest global financial inclusion database gives us solid details on just how prevalent. Africa has more than 120 million active mobile money accounts, over. Mobile banking in south africa recently has undergone rapid growth, and research on it is on the increase. Mobile money in subsaharan africa and its implications by. In many markets, individual outlets may serve several mobile money service providers. The organization surveyed mobile users in 7 countries in subsaharan africa, finding that twothirds or more respondents said they owned a mobile phone. Its no secret that even in countries where mobile money is slow in adoption like south africa, banks are watching with keen interest driven by fear of being left behind especially in a world. Tanzania was the first country in subsaharan africa to introduce harm reduction programmes. Informal sector gdp contribution, link to formal sector, contribution to.
Two billion people remain unbanked, without access to safe, secure and affordable financial services. For more information on full subscription access, contact us. This paper seeks to improve authors understanding of the current state of knowledge of. Cash transfer programmes form part of a new arm of hiv prevention. Get your free pdf by completing the following form. Africas untapped business potential brookings institution. Its one thing to get a handle on the physical map of africa, but its an even greater challenge to create. South africa botswana mozambique 82% 17% 1% 500 85% 11% 4% 5 82% 15% 3% 491 86% 12% 2% 640.
Mtn must adapt mobilemoney model to crack south african market. Growth and innovation in african retail banking mckinsey. Mobile money is currently supplied centering in the east africa region including kenya, tanzania. Africa internet user stats and 2020 population by country. The gsma mobile money programme is working with mobile operators and industry stakeholders to create a robust mobile money ecosystem, which will increase the relevancy and utility of these services, and ensure their sustainability. It was initially launched in india, turkey and eight african countries including lesotho, kenya and ghana.
Download this app from microsoft store for windows 10, windows 10 mobile, windows 10 team surface hub, hololens, xbox one. Please provide your account email and password below new users can sign up for a public account. Safaricom launched mpesa in kenya in march 2007 and has since become the most famous and probably the most successful implementation of mobile money service to date. Mobile wallets more popular in subsaharan africa than. Fica regulations are another hurdle in south africa, although here at least a more proportionate response to risk has prevailed. Slovenia, south africa, south sudan, spain, sri lanka, sweden, switzerland, taiwan, china.
The mobile money of africa was known as first serviced in south africa in the year 2000, and its fullfledged expansion is recognized as subsequent to the great success of kenyan mobile communication operator due to mpesa in 2007. With the help of a local leader regulo, and the maps from ine, the team. Another example is south africabased mtn, the mobilephone company with more than 200. In south africa and nigeria, two of the continents largest economies, it was nineinten.
In subsaharan africa, mobile wallets are a huge deal. These maps are perfect for a selfd free south africa. Slave ships intercepted by the royal navys west africa squadron in the. Use of mobile money, among phone users, by province and gender.
Easy unsubscribe links are provided in every email. Tap the temperature gradient icon fourth icon in from top left so the visible. The gambia officially the republic of the gambia, is a country in western africa. We interact with our mobile device thousands of times every day, and often press it. The overlooked revolution for business in africa mckinsey. Download this app from microsoft store for windows 10 mobile, windows. Exemption 17 allows clients to be registered for mobile money without proof of address or facetoface id verification as long as there is a low daily transaction limit.
1173 1057 1012 49 419 339 846 131 1134 1271 1110 863 852 1490 287 1169 180 932 1379 578 1492 1425 927 928 964 124 285 352 223 1141 1470 1442 251 1456 146 257 275 765 1206 1098 751 500 25 1341 24 1459 1166 175