Category Archives: Mobile Remittance

Orange celebrates the 10 millionth Orange Money customer

Orange Money has seen exponential growth since it was launched. The service is now available in 13 countries: Botswana, Cameroon, Côte d’Ivoire, Egypt (under the name Mobicash), Guinea, Jordan, Kenya, Madagascar, Mali, Mauritius, Niger, Senegal and Uganda. In 2013, more than €2.2 billion in transactions were conducted through Orange Money. The 10 million mark has just been hit, and in ...
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African mobile money revenues to hit $3 billion

Mobile Money operators’ revenue will rise to $3 billion by 2015, a study by Pyramid Research has shown. Although Safaricom’s M-Pesa in Kenya has long been the lone success story in the mobile money universe, successes are being recorded in Nigeria, Uganda and Tanzania with similar mobile money offerings. MTN Uganda’s Mobile Money service accounts for 3% of all airtime ...
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M-Pesa mobile money transfer goes global with MoneyGram deal

Safaricom’s push to take its mobile money transfer business global ha s received another boost with the signing of a deal that will see users of MoneyGram send cash directly to M-Pesa customers from any part of the world. The deal, signed by Vodafone – Safaricom’s majority shareholder – will allow users of MoneyGram in about 200 countries to send ...
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Live @ MWC: GSMA report shows active mobile money users reached 61 million

The GSMA’s Mobile Money for the Unbanked (MMU) programme released its third annual Mobile Financial Services State of the Industry Report, providing a quantitative assessment of the state of mobile financial services, including mobile money, mobile insurance, mobile credit and savings. The report draws on the results of the annual MMU Global Adoption Survey, as well as on data from ...
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EcoCash mobile money platform process $200 million per month

ECONET Wireless says that more than $200 million is now being transacted per month through its mobile money platform, EcoCash, helping ease the country’s cash constraints and aiding growth of the carrier. “There’s no question that EcoCash is filling a basic consumer need in one of Africa’s countries, where a great deal of the population has been excluded from the formal ...
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Mobile money transfer still undergoing growing pains

Since entering the public domain, mobile money transfer using the phone platform, has almost lit up the airwaves. Paperwork is at the minimum and speed is usually counted in minutes. This is the kind of service business people and especially small traders appreciate since banks intimidate them. Uganda currently has eight registered telecom companies and practically all are involved in ...
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Central Bank imposes mobile money tax after bitter dispute

Zimbabwe has begun imposing a mobile money tax on transactions after intense lobbying from the Bankers Association of Zimbabwe (BAZ) for the Zimbabwean central bank to regulate mobile money services “to create a level playing field” in the financial services sector. The banks had been involved in a bitter dispute with Econet Wireless, the country’s biggest telecoms firm, over its alleged ...
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Central Bank of Nigeria: new guidelines for financial inclusion

The Central Bank of Nigeria (CBN) has released new guidelines for the swift take off of the next level of implementation of the Nigerian Financial Inclusion Strategy (NFIS). The new guidelines released recently include promoting increased awareness of its financial inclusion strategy, setting up of a financial inclusion secretariat, and the establishment of a financial inclusion committee, as well as ...
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MasterCard, eServGlobal and BICS create HomeSend remittance JV

MasterCard, eServGlobal and BICS have announced the formation of HomeSend remittance, a joint venture (JV) which will enable consumers to send money to and from mobile money accounts, payment cards, bank accounts or cash outlets – regardless of their location or that of the recipient. The HomeSend JV will leverage the current HomeSend platform, a remittance hub based on eServGlobal ...
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M-Shwari pushes up loan accounts by 1.7 million

Safaricom’s mobile phone-based bank account M-Shwari helped to push up the number of loan borrowers by 1.7 million in six months between January and June, latest data by the Central Bank of Kenya (CBK) shows. This represented an 82% jump in the number of bank loan accounts to an industry total of 3.8 million, compared to only about 95,000 new ...
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