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Contents contributed and discussions participated by mohammed_ab

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mohammed_ab

Fintech, bank partnerships will deepen financial inclusion - 1 views

techjaja.com/ill-deepen-financial-inclusion

MTN Fintech Partnerships

shared by mohammed_ab on 13 Feb 21 - No Cached
  • MTN believes that the power of partnerships should never be underestimated. As the central bank finalizes the National Payment Systems Act regulations, we foresee more possibilities for partnerships between banks, Fintech, and Mobile Network Operators that will further drive financial inclusion.
  • mohammed_ab on 13 Feb 21
     
    I like how MTN sees partnerships with banks and other financial institutions as a way to become more reliable and trustworthy in the eyes of customers. I agree that without such partnerships, it will be very hard for fintech companies to achieve financial inclusion.
mohammed_ab

African Fintech: Growth, Profit and Forecasts - FurtherAfrica - 0 views

furtherafrica.com/...ch-growth-profit-and-forecasts

MTN Fintech investments Africa

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Investment in African Fintechs nearly quadrupled in 2018 to $357m USD, with startups in Kenya, Nigeria and South Africa accounting for the largest share, according to The Mobile Economy, Sub-Saharan Africa 2019 report from the GSM Association.
  • MTN announced in July that it had been granted a full Super Agent Licence in Nigeria for its Yello Digital Financial Services Limited subsidiary. This will enable the scale launch of MTN Nigeria’s Fintech strategy.
  • mohammed_ab on 13 Feb 21
     
    I liked this article as it shows the exponential growth of fintech investments in African countries. These investments have increased by 300% in 2018 compared to the previous year. It's interesting to see that the group believes that mobile will be at the center of financial inclusion in Africa.
mohammed_ab

MTN bets on fintech and digital revenues for growth - 0 views

www.businesslive.co.za/...nd-digital-revenues-for-growth

MTN Mobile Money Growth Fintech Investment

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Africa’s largest telecoms operator, MTN, is looking to capitalise on increased demand and usage of digital products such as mobile money and gaming so that these units account for a quarter of revenues in the next five years.
  • mohammed_ab on 13 Feb 21
     
    MTN is aware of the new fintech trend that is continuously growing year after year. The group wants to be part of this trend and he is starting to invest heavily in fintech solutions.
mohammed_ab

MTN apologises to its customers over new data bundles challenges [ARTICLE] - Pulse Ghana - 3 views

www.pulse.com.gh/...17xnm41

MTN Customers Wallets

shared by mohammed_ab on 12 Feb 21 - No Cached
  • MTN Ghana injects $160 million in improving network technology after coming under fire for poor services Most Ghanaians who use MTN have said that hours after the country’s largest mobile network operator introduced new data packages they were unable to purchase data bundles.
  • mohammed_ab on 13 Feb 21
     
    MTN is the number one telecommunication company in Africa by offering the best service to its customers. Facing such issues could impact customer loyalty and the brand image of the company.
mohammed_ab

MTN South Africa has collaborated with SA fintech Ozow to simplify MoMo transfers - Tec... - 2 views

www.techinafrica.com/zow-to-simplify-momo-transfers

MTN Ozow Collaboration Fintech

shared by mohammed_ab on 12 Feb 21 - No Cached
  • MTN South Africa has simplified the loading of funds for  Mobile Money (MoMo) users. According to a post on IT News Africa, Thomas Pays the CEO of Ozow described the partnership as ” one more step” in enabling “greater digital and financial inclusion” for all of South Africa. MTN MoMo was launched in early 2020 crossing a million users by June offering users an easy way to send money to their families and friends. The same applies to access to value-added services such as renewal of car license discs, prepaid electricity, online purchase of products, and an affiliate network of eCommerce partners.
  • mohammed_ab on 12 Feb 21
     
    I like this service a lot as it allows you to transfer money using your mobile phone and pay daily bills like electricity in a very convenient way.
mohammed_ab

MTN pumps millions into MoMo as it nears 2m users in SA | ITWeb - 1 views

www.itweb.co.za/...mYZRXM9alDrMOgA8

MoMo two-million Finetch

shared by mohammed_ab on 12 Feb 21 - No Cached
  • According to Kamenga, key success factors of mobile wallets are distribution networks and building an ecosystem around the product to encourage usage and transactions.“These are the areas where the previous deployment was lacking. The new MTN Mobile Money service comes with new innovative features that cater to the current economic landscape and consumer behaviour.
  • mohammed_ab on 12 Feb 21
     
    This article emphasizes the importance of a good ecosystem and distribution networks for the success of mobile fintech solutions. I liked how the article linked between the telecommunication systems and fintech solutions like MoMo.
mohammed_ab

MTN Group furthers financial inclusion - MTN Group - 0 views

www.mtn.com/p-furthers-financial-inclusion

MTN Financial inclusion Fintech

shared by mohammed_ab on 12 Feb 21 - No Cached
  • Initially designed to facilitate the transfer of cash between mobile users, MTN’s MoMo offering is now much broader. The group works with numerous partners to offer services including loans, insurance, remittances and MoMo Pay, enabling customers to store money in their mobile wallets with which they can then pay for goods or services at registered merchants. Mobile money services have grown faster in Africa than anywhere else in the world. In 2020, the trend has quickened, and the value of transactions has increased, partly supported by MTN’s reduction in MoMo transaction fees in many operations to assist customers battling the impacts of the pandemic.
  • mohammed_ab on 12 Feb 21
     
    I like how MTN has developed its fintech service MoMo that was originally just for money transfer using mobile phones but has rapidly grown to other services like loans and remittance.
mohammed_ab

MTN reports 23% rise in FinTech revenue to launch cash deposits and withdrawals | Naira... - 2 views

nairametrics.com/...-cash-deposits-and-withdrawals

MTN Fintech Service

shared by mohammed_ab on 12 Feb 21 - No Cached
  • MTN Nigeria, the largest mobile telecommunication firm in the country has reported a 23% rise in its FinTech revenue. This was confirmed by the company CEO, Ferdi Moolman in the company’s notes to the results
  • MTN also revealed plans to widen its FinTech service offering “from basic transfer service and airtime/data sales to a more extensive bouquet, including cash deposit and withdrawal services, bill payments and facilitating -e-commerce” it concluded.
  • mohammed_ab on 12 Feb 21
     
    MTN one of the largest telecommunication in the world has been investing a lot in fintech in African countries with their MoMo service. The company witnessed a rise in Fintech revenues which will enable the company to offer more fintech solutions.
mohammed_ab

M-Pesa: A Case Study in Financial Inclusion | by Matt ฿ | ChainRift Research ... - 0 views

medium.com/...nancial-inclusion-5b14cb7c612f

M-Pesa Kenya Payments Service

shared by mohammed_ab on 12 Feb 21 - No Cached
  • Their analysis found that, as a result of M-Pesa’s proliferation, 2% of Kenya’s households had been lifted out of poverty. Moreover, the study established (due to the lack of hard cash in said households) that money was better managed and less prone to being allocated to unimportant endeavors (I feel there’s a loose parallel to be drawn to the HODL/long time preference mentality here).
  • mohammed_ab on 12 Feb 21
     
    It's quite fascinating to see that 2% of Kenyan households were lifted out of poverty just because they start using M-Pesa services. I think that M-Pesa has some great potential in dealing with poverty as people get to manage their money more efficiently when they use mobile money.
mohammed_ab

Vodacom and Safaricom in the driver's seat for M-Pesa - 0 views

www.theafricareport.com/...in-the-drivers-seat-for-m-pesa

Financial inclusion FinTech Service Africa

shared by mohammed_ab on 12 Feb 21 - No Cached
  • M-Pesa, the mobile-money platform that helps millions of people on the continent to make financial transactions, is now under stronger African control. This follows the successful conclusion of the acquisition of M-Pesa by South Africa’s Vodacom and Kenya’s Safaricom from the UK’s Vodafone, the chief executives of the three companies announced on Monday.
  • mohammed_ab on 12 Feb 21
     
    This acquisition will allow M-Pesa to expand to other African markets more easily. It will also give the company stronger market power as all subscribers of Vodacom's will have easy access to M-Pesa services.
mohammed_ab

Digital Innovation in Emerging Markets: A Case Study of Mobile Money | MIT CISR - 0 views

cisr.mit.edu/...tionVodafone_OrlikowskiBarrett

M-Pesa Kenya Payments Services

shared by mohammed_ab on 12 Feb 21 - No Cached
  • We describe the success of M-PESA in Kenya and the subsequent disappointment when M-PESA was replicated in Tanzania. We show how emerging markets are likely to be more different from than similar to one another. Thus, companies should consider a strategy of exploration as they attempt to expand within emerging markets. 
  • In 2008, a year after launching in Kenya, Vodafone attempted to replicate this success in neighboring Tanzania, a country that resembled Kenya in many important ways—size of population (40+ million) and main languages spoken (Swahili and English), as well as levels of literacy, unbanked, and mobile phone usage. But M-PESA in Tanzania did not grow on anything like the scale and scope of M-PESA in Kenya
  • mohammed_ab on 12 Feb 21
     
    I think that this article shows something very important that we should into consideration in our capstone research. It shows how the same service was launched in very similar African countries, yet the penetration and growth results were far from the same. It's important because it shows that if we want to use a fintech strategy followed by a foreign company to an African one, it could result in very bad consequences even if this same strategy works for the foreign company.
mohammed_ab

An investigation of Safaricom M-Pesa strategies in enhancing mobile money transfer serv... - 0 views

erepository.uonbi.ac.ke/...59108

M-Pesa Mobile Money Africa Fintech

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The positioning of the M-Pesa product to capture the unbanked segment of the population especially in the lower income level bracket by providing a product that can easily and conveniently be accessed has made the M-Pesa become popular among the low income earners customers.
  • Strategies used by Safaricom to popularize the M-pesa product were an adoption of technology in the product development that has given it an edge over the other players. This has come about due to the increased investment in innovation and that employee’s use modern technology in their processes. The low cost strategy model also came out as yet another strategy that is used, Japanese concept of continuous improvement of a product or Kaizen, product differentiation through offering M-Pesa products with unique or superior value to the customer through product quality, features, or after-sale support.
  • mohammed_ab on 12 Feb 21
     
    I liked how M-Pesa positioned itself in the consumers who were unbanked and with little access to financial service. The company provided them with an easy to access solution to transfer money, which made the company very popular among the low-income community. It's also very interesting to see that the strategy used by the company was to use technology that allowed the service to work on non-smart phones.
mohammed_ab

What Kenya's mobile money success could mean for the Arab world - 1 views

www.worldbank.org/...-could-mean-for-the-arab-world

M-Pesa Kenya Arab World

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The growth of M-Pesa is the result of many factors, including the ease of setting up an account (which is free and only requires an official ID), its simplicity of use, its affordability, the high literacy rate of the population, and the high penetration of mobile phones.Another key element to M-Pesa’s growth worth emphasizing is the regulatory stance adopted by the Central Bank of Kenya (CBK). It decided not to oppose the entry of the telecom operator into the financial sector as long as it offered sufficient guarantees. CBK adopted an “above the fray” position as a regulator and allowed for experimentation in order to foster innovation.
  • mohammed_ab on 12 Feb 21
     
    I think that this article has some great information on how to replicate the success story of M-Pesa in the Arab World. I think that the Arab World is in need of such service to facilitate the life of unbanked people, and especially women. This article also highlights the importance of having a lenient regulatory system.
mohammed_ab

M-PESA Beats the Competition With Near 99% Market Share once Again - 0 views

techweez.com/...st-leave-the-market-for-m-pesa

M-Pesa Market Shares Mobile Money Kenya

shared by mohammed_ab on 12 Feb 21 - No Cached
  • As of June 2020, mobile money subscriptions stood at 30.5 million. The quarter ending at that time has 223184 mobile money agents. And as expected, M-PESA dominates the space with 98.9% market share. The Communication Authority of Kenya reports that the values transacted during the last quarter of the year (March to June) increased significantly from the previous quarter.
  • mohammed_ab on 12 Feb 21
     
    I'm quite amazed by the domination of M-Pesa in the mobile money market. The company has practically all the shares of the market (99%). This monopolistic position will make it hard for new entrants to compete with M-Pesa.
mohammed_ab

Mobile money platform Pngme raises $3M to expand across Africa - 0 views

cointelegraph.com/...ses-3m-to-expand-across-africa

M-Pesa Competition Pngme Africa Mobile Money

shared by mohammed_ab on 12 Feb 21 - No Cached
  • Africa-focused but U.S. based unified financial data platform Pngme this week announced its successful seed funding round raised $3 million.
  • Pngme hopes to tap into the burgeoning mobile money market in Africa that was kicked off with M-Pesa in 2007. Launched in Kenya, M-Pesa is a mobile banking service that allows users to store and transfer money through their mobile phones, largely targeting a massive population of unbanked citizens in the sub-Saharan region.
  • mohammed_ab on 12 Feb 21
     
    Pngme has been able to raise $3 Million to expand its operation on mobile money into Africa. This competitor could acquire more market shares from M-Pesa if it succeeds to penetrate the African market using the right strategy.
mohammed_ab

How Mobile Money Continues To Boom In Africa - 0 views

www.forbes.com/...ey-continues-to-boom-in-africa

M-Pesa MTN Fintech partnership Paypal Western Union

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The tie-up of Kenya's mobile sensation M-Pesa with PayPal and Western Union, coupled with the joint venture between two of the largest cellular operators – MTN and Orange – for a mobile wallet that operates across networks have capped a year that has seen significant developments in Africa's already blooming mobile payments market.
  • mohammed_ab on 12 Feb 21
     
    This partnership between M-Pesa, Paypal, and Western Union will have a significant impact on the growth of M-Pesa outside Africa.
mohammed_ab

How M-Pesa changed banking in Africa - CNN - 0 views

edition.cnn.com/...index.html

M-Pesa Mobile Money Fintech Kenya

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The system was launched by Vodafone's Safaricom mobile operator in 2007 as a simple method of texting small payments between users. Today there are 30 million users in 10 countries and a range of services including international transfers, loans, and health provision. The system processed around 6 billion transactions in 2016 at a peak rate of 529 per second.
  • mohammed_ab on 12 Feb 21
     
    This article explains how M-Pesa, a small mobile money transfer using SMS has grown over the past 10 years, which enable the company to reach a level of success that was unpredictable. Today, the company has expanded its service & product offerings making the volume of transactions reaching a level of 529 per second. I think that this service could expand to all African countries, Morocco included, and it could have some great benefits to unbanked people in Morocco.
mohammed_ab

M-Pesa: a Mobile Money success story from Kenya - Technology and Operations Management - 0 views

digital.hbs.edu/...money-success-story-from-kenya

M-Pesa Kenya Success Business Model

shared by mohammed_ab on 12 Feb 21 - No Cached
  • Given the up-front costs of acquiring agents, it is tempting for mobile money providers to want to take short cuts and minimize the agent-to-customer ratio. However, this does not set an individual agent up for success. If Safaricom were to recruit too few agents, customers would find M-Pesa difficult to use and difficult to access.. On the other hand, if there were too many agents, many of them would not be able to generate enough business to cover the cost of managing their e-cash and cash liquidity. As a result, they would stop maintaining their electronic money float and cash balances. M-Pesa’s success lies in the fact that they grew their agent network at the same pace as their customer base, keeping transactions per agent per month steady at around 1,000 / agent / month.
  • According to a McKinsey report on Mobile Money, proximity of nearest agent makes a significant impact on transaction volumes. “When a cash agent is more than 15 minutes away, mobile money has relatively little appeal, and customers use it once or twice a month. But when the agent is less than 10 minutes away, usage rises to 10 times a month—and for those within 2 minutes of an agent, to 30 times a month.” Safaricom spread its agents out across Kenya so as to truly enable network effects and enable Kenyans to send e-cash to their family members and friends even if they did not live in the same geography.
  • mohammed_ab on 12 Feb 21
     
    I think that it's interesting to see that agents are playing a vital role in the success of M-Pesa in Kenya. The company knew about the costs related to acquiring agents, but they also knew that recruiting too few agents will kill the solution M-Pesa is providing. In addition to that, M-Pesa tried to spread its agents all over Kenya to make their solution available and easy to access anywhere in Kenya.
mohammed_ab

Frontiers | Blockchain Technology for Agriculture: Applications and Rationale | Blockchain - 0 views

www.frontiersin.org/...full

WorldCover Blockchain Fintech Crop Insurance

shared by mohammed_ab on 12 Feb 21 - No Cached
  • The blockchain technology allows peer-to-peer transactions to take place transparently and without the need for an intermediary like a bank (such as for cryptocurrencies) or a middleman in the agriculture sector. By eliminating the need for a central authority, the technology changes the way that trust is granted – instead of trusting an authority, trust is placed in cryptography and peer-to-peer architecture
  • mohammed_ab on 12 Feb 21
     
    The use of blockchain in agriculture has many benefits for farmers and for suppliers of fintech solutions.
mohammed_ab

https://www.ifc.org/wps/wcm/connect/448601b9-e2bc-4569-8d48-6527c29165e8/EMCompass-Note... - 1 views

www.ifc.org/...tion-in-Financial-Services.pdf

WorldCover Crop Farmers Blockchain Artificial Intelligence

shared by mohammed_ab on 12 Feb 21 - No Cached
    • mohammed_ab
      mohammed_ab on 12 Feb 21
       
      I believe that the use of Artificial Intelligence and blockchain is what made WorldCover a reliable crop insurance company in Arica. The use of these two technologies made access to insurance easy for poor farmers easy who don't even have a bank account.
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