Africa is leading the world in Mobile commerce and payment with active deployments all across the continent. M-PESA is now referred to as the most successful of all with more than 7 million subscribers in Kenya alone. Many look alike deployments are either in active roll outs or in the offing.
The basic cornerstone of good governance are quality of service, quick response mechanism and above all, accountable and transparent process mechanism but the existing systems does not reflect any of these in any of its activities across all sectors and arm of government in Africa.
Mobile phones can enable Banks and their existing and new customers to interact remotely in a trusted way through local retail outlets like the super markets, Gas stations, lottery points, post offices and even airtime dealers.
Nigeria with 5 Mobile Operators and 7 CDMA operators with total subscription of 62 Million under an addressable market of 140 Million people is the largest market for Mobile telephony in Africa.
Mina, a Ghanaian Lady that I met on my recent trip from Accra, the capital city of Ghana to Aflao, the border town with Republic of Togo, was traveling to conduct withdrawal transactions with her ATM card and nine other cards belonging to friends. The distance to Aflao from her rustic roadside village is close…
Nigeria with only 18 million Bank accounts and 62 million Mobile Phone subscribers is posed to be Africa’s biggest market for Mobile Money in coming months. Despite the late start of Mobile Money in Nigeria, the strong compelling needs of the millions of unbanked populations will propel it to enviable heights that will surpass Kenya’s…
For Millions of Africans that are still formally excluded from any formal financial services, how and where they get such services is of less importance to them, than getting the service. The Banks are still trying to lure people in through their gates by offering lots of Innovative services that can deliver value to customers…