Mobile Money: Playing M-PESA catch up

By The Africa Report

Posted on Tuesday, 6 December 2011 14:59

No other African country has yet managed to replicate the success of Safaricom’s M-PESA system in Kenya, soon to hit 15 million users.

With money only transferable between customers on the same network, the challenge elsewhere has been in building a user base so big that it is impossible to function without signing up.

Rwanda plans to leapfrog the problem by launching a cross-network money transfer system in 2012, which will make it faster to transfer money in Rwanda than in the Netherlands, central bank governor Claver Gatete told The Africa Report.

In Nigeria, regulators have licensed banks to lead the mobile money roll-out by pairing up with a telecom operator.

The test will be whether the operators believe they are getting a good share of the profits.

Understand Africa's tomorrow... today

We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.

View subscription options