MTN in Nigerian mobile money roll-out
According to MTN, mobile money will harness and document the identities, resources and financial transactions of hoarders and unbanked Nigerians and bring them into the formal economy.
Most Nigerian telecom analysts say they're positive about the latest mobile money developments in the country. Currently, less than one in five Nigerians have bank accounts and the country's 24 commercial banks have a network of less than 4 000 branches nationwide.
According to Telecom Paper. Serigne Dioum, GM for mobile money at the operator's Western and Central Africa division, says MTN will also unveil mobile money services in Liberia and Guinea Bissau this month.
It has already unveiled mobile money services in Ghana, the Ivory Coast, Cameroon and Benin. The addition of the three new markets means that the MTN unit has “launched everywhere where we haven't got regulatory issues,” says Dioum.
Dioum says the operator had almost three million mobile money customers across its current footprint in the Western and Central Africa region, supported by a network of some 2 100 merchants and points-of-sale, states Mobile Business Briefing.
He adds MTN had pursued a 'multi-bank approach' in the region, including working in partnership with nine banks in Ghana.
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