West Africa

Tigo Cash Ghana introduces new TV commercial

Tigo Ghana has said its Tigo Cash mobile money transfer service is the only one that allows subscribers to send money to loved ones and business associates on other networks This was contained in a statement that announces the newly introduced TV commercial about the crossnetwork Tigo Cash service The statement said Tigo cash as of today is the only mobile money transfer service in Ghana that allows subscribers to transfer money across all networks So in effect a Tigo subscriber who wants to send money to a friend or loved one on any network can do so Competition does not have this service the statement added The statement said Tigo Cas...[...read more]

Filed Under West Africa

NIPOST partners with eTranzact on electronic payment service

The Nigerian Postal Services NIPOST has partnered with Nigerias leading electronic and switching payment company eTranzact International Plc to increase access to epayment services in Nigeria The partnership with NIPOST is in line with eTranzacts mission to provide convenient epayment services to Nigerians According to the Director Business Development eTranzact International PLC Sullivian Akala the partnership with NIPOST is to extend epayment services largely to the underbanked We are leveraging on the partnership with NIPOST to reach more customers especially in the rural areas NIPOST has all necessary facilities to drive epayment serv...[...read more]

Filed Under West Africa

Ghana and Nigeria poised for mobile banking revolution

West Africans will soon start to experience the benefits of mobile banking bringing on board millions of people that have been excluded from financial services The AITEC Banking and Mobile Money conference will next month bring to Accra the worlds top experts on mobile banking just as several countries in the region are merging their rising mobile coverage with financial systems that will allow citizens to use their mobile phones to transact transfer and store money Similar rollouts in Eastern Africa have transformed the financial sector Since the launch of Kenyas MPesa mobile money accounts more than 13 million Kenyans have moved to usin...[...read more]

Filed Under West Africa

GTBank Inaugurates Mobile Money Services with MTN.

As part of efforts to render efficient services to customer Guaranty Trust Bank GTBank Plc has introduced a mobile money product in a worldclass partnership with MTN to the Nigerian Market The Acting Managing Director of GTBank Mr Segun Agbaje said Thursday that the introduction of the product was pursuant to an approvalinprinciple granted by the Central Bank of Nigeria CBN for a pilot rollout of mobile money services According to him the GTBank Mobile Money service is designed to be a convenient secure and affordable way of sending money using a mobile phone He said that the service which is currently available to all MTN subscribers ...[...read more]

Filed Under West Africa

No more extension for mobile money operators - CBN

Emma Okonji Independentngonline The Central Bank of Nigeria CBN has said that there would be no further extension of the May 31 deadline given to Mobile Money operators to put their houses in order The apex bank insisted it would go ahead with its auditing procedures at the end of May and would come out with the final licence in July to be issued to successful operators who meet the set standard Deputy Director in charge of Domestic Payments Division Baking for CBN Mr Emmanuel Obiagbona who gave the hint said CBN would set up external auditors who would work with its internal auditors to audit and assess the performances of the cur...[...read more]

Filed Under West Africa

IFC evaluates investment in Nigeria’s mobile money market

Dayo Oketola The International Finance Corporation may invest in the Nigerian mobile money industry if it is satisfied with the result of the due diligence it is currently carrying out on the industry Our correspondent gathered that the IFC was keen to play a major role in the countrys emerging mobile money ecosystem and was currently evaluating opportunities available therein Areas currently being evaluated by the IFC include technology acquisition eFloat management and agency network according to investigation The Principal Associate Mobile Money Africa Mr Emmanuel Okoegwale who spoke with our correspondent about the development said ...[...read more]

Filed Under West Africa

First Capital Plus to offer mobile phone banking

Beginning this month customers who subscribe to the mobile banking services of First Capital Plus would start receiving periodic reports of their accounts status on their mobile phones Director of Media and Communications at First Capital Plus a fully Ghanaianowned nonbanking financial institution told Adom News the new service was to make it more convenient for their numerous mobile banking customers to follow their account status on their phones anytime anywhere We have over 300 mobile banking staff who go round mobilizing funds in the form of susu from petty traders and several other customers but these customers usually have to wa...[...read more]

Filed Under West Africa

Developing Mobile Payment and Agency Banking Risk Mitigation

Emmanuel Okoegwale Principal Associate MobileMoneyAfrica As mobile Money providers await the Central Bank of Nigerias final licensing regime stakeholders are bracing up to take a share of Africa largest mobile market with more than 80 million subscribers and probably may also be Africas most unbanked with less than 28 million bank accounts under an addressable market of 140 million people The Central Banks had delayed issuing licences to adequately address potential risk policy and regulatory issues While no known particular regulatory framework can be upheld as the best working model but it is clear that Mobile Money and ...[...read more]

Filed Under West Africa

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