Mobile Money a hit in Africa, but innovative service is key
Mobile money is starting to gain traction in Africa, but agent network design, speed of product innovation and ease of use will remain key to market leadership in the field, telecommunications group MTN Uganda sales and distribution GM Shaibu Haruna reports.
Mobile money has increasingly become an enabler of financial transactions and is rapidly evolving to allow customers to perform a myriad of transactions, including money transfers, payments for goods and services and international remittance.
He cites the service’s success in Uganda, where more than half of MTN’s customers are “mobile money-enabled” and generate over 25-million transactions a month.
However, he warns that approaching mobile money as just another value-added ser- vice will be detrimental to its success.
Mobile money will contribute to the revenue of the operator, impact on churn and average revenue per user and provide an opportunity for the operator to take advantage of the mobile money agent network.
However, sustained investment in tech-nology, agent networks and consumer educa-tion, agent training, branding, trade incentives and trade support are required to build a mobile money ecosystem.
“It is common practice for mobile network operators to approach mobile money deploy-ments as another value-added service, but they are quick to realise that mobile money is a far more demanding service that requires a completely new skills set, organisational design and route to market to make it meaningful,” highlights Haruna.
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