CAMEROON:Express Union promises 40% commission on Mobile Money service

The Cameroonian microfinance outfit Express Union (EU) which has lagged behind telecoms operators MTN and Orange in Mobile Money since 2011, has just launched an offensive aiming to entice.

To this end, Express Union, is actually inviting traders, credit retailers (call-boxes), dealers, hairdressers, shop keepers and economic operators to join the network of franchise/retailers of the service "Express Union Mobile Money". The microfinance company promises up to 40% in commission on charges in the form of micro credits to develop subscriber activities.

The offer of EU appears enticing because it is higher than the percentage of 5% that call-boxes, for example, receive from MTN and Orange for the different types of transfers. Considerably more, Express Union Mobile is proposing a commission nearer to the 50% that the Union of Delegates and Commercial Distributors of Telecom Products in Cameroon (Syndicat des Délégués et Commerciaux Distributeurs des Produits des Télécommunications au Cameroun - SYDECDIPROTEC) claim, often through strikes, at the duopoly Orange-MTN.

As a reminder, the Telecoms Regulatory Body in Cameroon indicates that, since its launch in 2011, this sector recorded up until 2014 transactions totalling FCfa 72 billion. This amount corresponds to 9 million transactions via SMS. To date, more than 6,000 Mobile Money payment points exist throughout Cameroon.

SOURCE:BUSINESSCAMEROON