MTN embarks on a journey to lead and deliver to its customers a bold new digital world, by transforming itself from being a traditional Communications Service Provider to a Digital Services Provider.
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MTN Group Selects Tecnotree as the strategic partner for Digital Transformation of thei... - 1 views
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“This partnership represents another significant milestone in our digital transformation strategy at MTN Group. An integrated digital ecosystem is the cornerstone for delivering operational efficiencies and a more enhanced customer experience. Our digital self-service platforms make our customers lives a whole lot brighter through a more personalised and seamless experience. As we continue our digital transformation journey, we are able to be more agile, efficient and customer centric”
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I like the confidence that MTN had to turn to a digital one from a conventional telecommunication service provider. I would claim that these decisions could be vital to the success of the organization. You just need to know the exact time for this important decision to be chosen.
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I like the courage that MTN had to switch from a traditional telecommunication service company to a digital one. I can say that these decisions can be crucial for the business's success. You just need to know the exact time to opt for this important decision.
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The Role of M-Pesa in Kenya's Economic and Political Development | SpringerLink - 0 views
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Mobile phones, which have been adopted faster than any other technology in human history, are the visible expressions of a technology-oriented consumer (Jack and Suri, 2010). Although this image is mainly associated with the iPhone in Asian, European, or North American contexts, the spread of mobile phone technology has been even faster and successful in Africa.
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Mobiles phones are nowadays the key of a success of a new digital platform.
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Improved ICT infrastructure in Ghana raises data penetration | Ghana 2018 | Oxford Busi... - 0 views
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In 2017 MTN Ghana – the local subsidiary of the South African mobile operator, and the market leader – redefined what constitutes a subscriber, removing 3.4m inactive lines from its network in the first quarter of the year. However, in the same quarter the company gained more than 800,000 new active customers. The net effect was a drop of 2.5m in its subscriber base, leaving it with 16.9m voice subscribers, according to the NCA.
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MTN Ghana holds the largest market share. As of April 2017 it had a 56.1% share of mobile data services and 46.9% of voice. It also held 59.7% of broadband wireless access through its 4G services.
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The firm saw revenue growth of 19.8% in 2016 on the back of its strong performance in the data segment. According to the company’s financial results, data revenue increased by 66% and accounted for 42% of total revenue in 2016 on the back of the launch of a 4G network.
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This led to a drop in the overall mobile penetration rate in Ghana. It fell from 139% in February 2017 to 127% at the end of April. However, the country has actually seen a slight increase in the number of customers. In 2016 monthly mobile subscription growth ranged from 0.22% to 1.51%, and in March 2017 the segment was growing at a rate of 0.57%. The sluggishness is a result of the fact that the voice segment is saturated, but there is still room for expansion and building revenues in data services. Data
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Businesses that are constantly planning a way to better their company will always find new ways of making decisions. You only need to pursue a certain methodology that needs a full analysis of the market or the segments of the consumer.
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As you can see, MTN is always taking crucial decisions. I think that companies that always plan a way to improve their business can always find innovative ways to take decision. You just need to follow a certain strategy that requires a full study of the market or the customer segments.
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MTN and Ayo engaged in a partnership in order to launch an insurance on mobile money transfer. It was called "send with care" which allowed clients to pay premiums that would cover them in some determined situations.
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MTN Ghana Takes Fight Over Market Dominance to Supreme Court - 1 views
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The Ghanaian unit of African telecommunication giant MTN Group Ltd. is petitioning the highest court to review a declaration that it is a significant market power. Failure could result in stricter regulation.
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It wants a reversal of the National Communications Authority’s decision, which was upheld by a lower court, the continent’s biggest operator said in a statement. The designation would limit its growth and performance, the company said.
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MTN Ghana has achieved tremendous market supremacy. I think that since being the leader often brings out rivals, they need to be careful with the rivalry. In order to prevent potential issues that could consume the time and resources of the company, MTN needs to be conscious of any regulation.
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MTN Ghana reached a huge market dominance. I believe that they need to be careful with the competition because being the leader always brings out enemies. MTN needs to be aware of every regulation in order to avoid future problems that might consume the company's time and money.
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Digital Innovation in Emerging Markets: A Case Study of Mobile Money | MIT CISR - 0 views
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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.
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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
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M-PESA was initially developed by Vodafone as a mobile-based, microfinancing application funded partially by the UK Department for International Development to extend financial access to the unbanked populations in East Africa.
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Developed by the mobile telecommunications company Vodafone, M-Pesa was first a microfinancing solution promoting financial inclusion in East Africa.
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Managed by the corporate social responsibility (CSR) group within Vodafone, M-PESA was designed for a niche market: microfinancing institutions and their clients. The project was intended to be low-cost, low-key, small in scale, and modest in scope—focused on addressing issues of financial inclusion within the developing world.
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The redesigned M-PESA system launched in Kenya in April 2007, growing rapidly through uptake and user innovation of new services. Now used by over 17 million Kenyans—which is more than two-thirds of the adult population—it is estimated that annually some 31% of the country’s GDP flows through it.
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- Important customer reach. - Facilitates the transfer of funds as 31% of the country's GDP flows through the platform.
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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. -
"M-PESA was initially developed by Vodafone as a mobile-based, microfinancing application funded partially by the UK Department for International Development to extend financial access to the unbanked populations in East Africa. Managed by the corporate social responsibility (CSR) group within Vodafone, M-PESA was designed for a niche market: microfinancing institutions and their clients. The project was intended to be low-cost, low-key, small in scale, and modest in scope-focused on addressing issues of financial inclusion within the developing world. "
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MTN apologises to its customers over new data bundles challenges [ARTICLE] - Pulse Ghana - 3 views
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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.
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MTN Ghana has apologized to its customers who are facing challenges as they try to purchase data bundles.
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MTN has experienced some challenges on some of our channels post-implementation of the adjustment of prices and our new data bundles.”
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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.
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Some customers of the company complained on social media about the difficulties they are facing in purchasing data packages using their mobile money wallets.
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MTN needs to be aware of issues of this nature. They have to ensure that everything functions well when launching a new package, because when you are the leading company, customers demand the best possible service.
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MTN needs to be aware of this kind of problems. They've to make sure when launching a new package, everything is working perfectly because when you're the leader company, customers expect the best service possible.
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MTN made a good move by maintaining its contact with its customers, because after all the challenges and problems in its platform, there is a high risk that it will loose its customers' trust.
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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.
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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 sawsanenn on 12 Feb 21
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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.
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The transaction has been in the works since 2019, when Vodacom and Safaricom announced they had formed a joint venture through which they planned to acquire the full suite of M-Pesa services.
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The platform is available in Kenya, Tanzania, Lesotho, the Democratic Republic of the Congo, Ghana, Mozambique and Egypt. The acquisition will enable a more aggressive expansion strategy to other markets on the continent where the platform is not available.
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In 2019, M-Pesa users conducted 11bn transactions worth R2trn ($107.1bn), while the platform contributed R3.1bn to Vodacom’s revenue. M-Pesa is a big part of Vodacom’s plans to diversity into fintech.
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m-pesa is a competitive advantage for Vodacom's plan to diversify into fintech. the platform is now available in 7 African countries. this will also allow an aggressive expansion strategy to other markets in Africa when the platform is not yet available.
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A key impediment to M-Pesa gaining traction was the fact that the country has a well-established banking sector and most adult South Africans have bank accounts.
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besides that, these banks have their own fintech services that are not as developed as M-Pesa, but the fact they are produced from the bank, it makes them more trustworthy than M-Pesa This kind of bank services make the market highly competitive
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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.
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"The transaction has been in the works since 2019, when Vodacom and Safaricom announced they had formed a joint venture through which they planned to acquire the full suite of M-Pesa services."
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Home - Pula - 0 views
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Pula uses insurance and digital products to help smallholder farmers endure climate risks, improve their farming practices, and bolster their incomes over time. LEARN MORE
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Pula is another Fintech business that solve a very interesting problem for farmers. I think that this company got a brilliant future.
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M-Pesa: A Case Study in Financial Inclusion | by Matt ฿ | ChainRift Research ... - 0 views
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M-Pesa was launched in 2007, and it’s still going strong. The concept of a phone-based money transfer service originated back in 2002, when researchers realized the popularity of the market for phone airtime — individuals in a handful of African nations often transferred it to friends and family for subsequent use or resale.
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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).
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When M-Pesa (launched by Safaricom) made its debut a few years later, it had initially been conceived as a solution for microfinancing — allowing institutions to distribute and collect loan payments without the hassle of cash. However, during this pilot, its widespread adoption in a myriad of alternative use cases caused the company to reconsider and relaunch with a focus on ensuring individuals could send money to their families and execute payments.
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Whilst things like Apple Pay and Google Pay leverage some interesting technologies, they still rely on the participant being ‘banked’ in the first place. That, and they’re about ten years too late to the party.
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Unlike Apple pay and Google Pay, M-Pesa does not need its customers or users to have a bank account.
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Clearly, there are benefits to virtual currency that physical fiat can’t mirror. Beyond convenience and security (no need to carry cash), the M-Pesa offering allows for remittance across long distances cheaply and without a bank account.
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In addition to being convenient and secure, M-Pesa provides easy solutions for remittance or money transfer across long distances with low cost.
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M-Pesa has proven that relatively low-tech ‘dumb phones’ can be transformed into tools for better wealth control. The leap from virtual money to cryptocurrency isn’t a massive leap from there. Indeed, tools such as BitSIM (development appears to be stalling, though the concept is simple; overlaying a SIM card with a small sticker so that even archaic phone models can transact in BTC), Samourai’s PonyDirect and CoinText (currently aimed at Bitcoin Cash) facilitate entry into the Bitcoin ecosystem with cellphones.
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M-Pesa is setting the example in how regular phones can be used for virtual money transfer and how this could incorporate in the same sense cryptocurrencies.
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The organization becomes exceptionally well known among the low-income local area. It furnished people with a simple solution to send money from any location. -
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.
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M-pesa was launched in 2007 and it is based on the concept of phone based money. It was established for the main purpose of allowing institutions to distribute and collect loan payments without having to deal with actual cash, yet they were smart and made it a company that has the main goal of giving people the opportunity of making payments and send money.
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Pula: Combining affordable insurance with agronomic advice to protect smallholder farme... - 0 views
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“I hope that Pula continues in the future and that we can continue to improve our future through its benefits.” Festus Mutio, farmer, Kitui County, Kenya
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Pula created a very innovative business and customers really appreciate their efforts. Pula gained customer trust which is very important.
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SmartelMoney | Home - 0 views
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Enjoy the lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. We have kept our fees as low as possible - we are the most affordable option on the market
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The smartelmoney is distinguished by its low costing feature. Obviously, these facilities need to be affordable for many people in order to benefit from them because they are meant to improve lives by enabling people to transfer money at a lower cost.
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Enjoy the lowest rates in the country, cheaper than internet banking and even cheaper than mobile money. We have kept our fees as low as possible. We are the most affordable option on the market.
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One interesting selling point of this fintech is that you can do all your money transfer and transactions with low costs. It's the cheapest option in Lesotho. The aim is to help consumers so that they can afford these kinds of services.
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The Mukuru Story | Mukuru - 0 views
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Mukuru enables our customers to move money around the world. We use the latest mobile and web-based technologies to deliver the safest and most efficient experience possible. But that’s just half the story. To really understand us, you need to know the why behind all we do. We exist as a remittances business to empower migrants typically excluded from mainstream financial services, to move money in a convenient, safe and affordable way. We know that every customer has a story; just as we do. So whether sending money home for school fees, the purchasing of seeds and farming equipment, hospital bills, rent or groceries, we are passionate about making each story end well.
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Mukuru enables our customers to move money around the world. We use the latest mobile and web-based technologies to deliver the safest and most efficient experience possible. But that’s just half the story. To really understand us, you need to know the why behind all we do. We exist as a remittances business to empower migrants typically excluded from mainstream financial services, to move money in a convenient, safe and affordable way. We know that every customer has a story; just as we do. So whether sending money home for school fees, the purchasing of seeds and farming equipment, hospital bills, rent or groceries, we are passionate about making each story end well.
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Mukuru offers remittances to people across Africa. It can be helpful for people who live in rural areas. It has already erved more than 7 million customers with 42 branches in Africa.
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Egypt's Fawry is now a billion-dollar company - 1 views
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Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March – when they also saw it drop to one of its lowest points of EGP 7 per share. But since then, it has been on an upward trajectory – which also coincides with Covid-19.
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the pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt benefitted a lot from that.
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Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt – that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
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Fawry has a large network of service points and diversified services spread out in different cities in Egypt.
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The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that – which is also evident from company’s just-announced financials for the second quarter.
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The demand for electronic payment services mainly provided by Fawry in Egypt increased in the context of the pandemic.
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Share7KTweetShareWhatsAppEmail7K SharesEgyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
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It's important to keep in mind that Fawry started out small and then became the first technology company in Egypt to get a market cap of $1 billion.
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Egyptian electronic payments company Fawry now has a market cap of over $1 billion. It achieved the feat during the intraday trading, with its share price rising to EGP 22.69 which gives it a market cap of EGP 16 billion or $1 billion (for the first time). With this, Fawry has become the first technology company in Egypt to get to the billion-dollar valuation.
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This achievement was partly, or mainly, due to the Covid-19 pandemic that pushed many people to place a high demand on Fawry's many e-payment solutions and services.
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Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
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Fawry leads the Fintech Egyptian Market, its stock price has increased, and its revenue has increased as well in 2020.
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Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
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Egypt's Fawry is now a billion-dollar company
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Its stock price has increased by over 300 percent since its debut at The Egyptian Exchange in August last year. It had gone public with its shares priced at EGP 6.46 (per share).
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Fawry had witnessed a surge in its stock price during the first two months after its public markets debut but the price afterward remained almost flat until March -
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Its revenue for the first half of 2020 has increased by 47 percent (year-on-year) to EGP 549.26 million ($34.41 million) from EGP 373.33 million ($23.38 million) for the same period of 2019. The net profit of the company in H1 2020 has increased by over 135 percent YoY to EGP 85.9 million ($5.38 million) from EGP 36.47 million ($2.29) in H1 2019.
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The pandemic has created a surge in demand for electronic payment services and Fawry being the leading player in Egypt obviously has benefitted a lot from that - which is also evident from company's just-announced financials for the second quarter
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"Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks."
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Fawry that is the only technology company on The Egyptian Exchange currently offers over 250 electronic payment services through its network of over 105,000 service points across 300 cities in Egypt - that include ATMs, mobile wallets, retail shops, post offices, and little vendor kiosks.
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Fawry | Helios Investment Partners | Helios Investment Partners - 0 views
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Fawry provides users with a secure electronic bill payments solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets.
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Fawry is able to connect different types of segments and people from consumers to merchants to government, etc.
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Fawry provides users with a secure electronic bill payments solution, connecting consumers, merchants, governments and financial institutions on a consolidated gateway that is accessible through multiple channels, including Point of Sale (POS) machines, ATMs, post offices, online and through mobile wallets.
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Many people are concerned with the level of security of these financial services providers and sometimes they refuse to use them because of this matter. However, Fawry provides its customers with a secure electronic bill payments solution through multiple channels including point of sale which is easy to use and increases efficiency.
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MTN reports 23% rise in FinTech revenue to launch cash deposits and withdrawals | Naira... - 2 views
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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
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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.
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MTN has also recorded an increase in data revenue which it ascribed to “greater population coverage, a revamp of our data portfolio and initiatives to drive 4G device penetration”
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MTN’s foray into the FinTech space has often been viewed as a game-changer in a very competitive and dynamic FinTech space. With its huge balance sheet and brand power, the company has a large cash pile that it can throw into space.
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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.
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From this article we can see that MTN has grown and continues to grow as more and more people will rely on them.
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MTN's foray into the FinTech space has often been viewed as a game-changer in a very competitive and dynamic FinTech space.
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Mama Money Company Profile - Office Locations, Competitors, Revenue, Financials, Employ... - 0 views
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Mama Money is a company that operates as an international money transfer operator. It offers a mobile app that allows users to send money to their families.
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Mama money can be considered as a competitor of SimbaPay since they both offer the same services which consist of sending money to your families.
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MTN Group furthers financial inclusion - MTN Group - 0 views
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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.
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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.
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MTN pumps millions into MoMo as it nears 2m users in SA | ITWeb - 1 views
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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.
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The MTN Mobile Money (MoMo) platform is closing in on a total of just over two million users since its relaunch in February.
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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.
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The new platform (MoMo) has reached 2 million users as it is easy and secure, with no monthly expenses, you can also use it even if you don't have a bank account.
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MTN South Africa has collaborated with SA fintech Ozow to simplify MoMo transfers - Tec... - 2 views
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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.
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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.
