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Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
Mobile Money Africa March Edition
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Mobile Money Africa March Edition

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Africa\'s leading resource for mobile financial inclusion,Free E-magazine

Africa\'s leading resource for mobile financial inclusion,Free E-magazine

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  • 1. Volume 1 | Issue IV March 2010 Win $2000 in ACMFI Logo contest AFRICA Going Mobile Haiti: Mobile to the rescue.
  • 2. www.mobilemoneyafrica.com Editorial Page Advisory Board Amaka Agbakoba Ofume, Former Senior World Bank Consultant. Meneske Gencer, Director - Mpayconnect, Inc. Aiaze Mitha, Director - Amarante Consulting LLc. Avijit Nanda, President - Timesofmoney India Graham Orodje, CEO - TaurusMobile Jeppe Ramlau - Hansen, - VP - Clickatell Events and Marketing Emmanuel Okoegwale, West Ehkahtor Editor. kwest@mobilemoneyafrica.com Emmanuel@mobilemoneyafrica.com Business Development, sales and Adverts Easter Arekameh Mobile Financial services is shaping the new brave world. aeaster@mobilemoneyafrica.com Leading financial services providers, Remittance Creative Consultant firms,electronic card services providers are all looking at Chike Orji the mobile as the next frontier for competition. SOFTPEN 08062186706 Western Union is accelerating the digital program with the Web Consultant recent certification of Fundamo and Mchek. Visa recently Mark Oppenneer signed up an Industry veteran to lead world wide Mobile Ethnos project Innovation. From all sectors, Mobile commerce is coming USA into the main stream. Advert Sales Governments and International Non government North America organization also acknowledged the contributions from Burke Bruce mobile donations to the Haiti efforts.More than 34 Billion 727-612-5775 USD has been donated via mobile payments,world wide. burke.bruce@gmail.com February was a busy month in the Mobile Money space Europe across Africa. Events took place in East Africa, Aitec Graham Orodje Africa Mobile Money Comesa,Nairobi and BSP Events graham-orodje@sadanamedia.com Mobile Banking West Africa at Lagos Nigeria. 07508 429480 UK Join us at the MobileMoney fundamentals training in Africa / Rest of the world Lagos Nigeria, holding at the VCP Hotel Victoria Island Emmanuel Okoegwale on March 10th, 2010. We look forward to your +234 803-081-8868 participation Thank You MobileMoneyAfrica is published monthly by GO MOBILE NIG 4b, Adekunle Kuye street, Surulere, Lagos - Nigeria. All materials in this publication are covered by copyright. The inclusion or exclusion of any does not mean that the publisher advocates or rejects its use. No part of this publication may be reproduced or transmitted in any form- electronically, mechanically, photocopying or otherwise in whole or in part without written permission of the publisher. All correspondence is assumed to be intended for publication unless clearly stated otherwise. 009 - 234- 1-2212869, 009-234-803-08-18868 Follow us on
  • 3. Haiti Tragedy & MobileMoney Emmanuel Okoegwale C itizens of the world, woke up on the 12th of January to find the country of Haiti under the ruins, due to the effects of a devastating earthquake. Thousands of people were reported killed and many still unaccounted for and millions are without food, water, medicines and shelter. Matching action with words, President Obama made pledges and millions of dollars donations face of earth. This is our score card, not flowed in from all around the world. From the because we lack capacity for kindness and Big corporate donors to the very ubiquitous Love but we lack the ability to share Love Mobile Phones, they all proved that the world using simple technologies like mobile payment. is now a connected place ,where commerce can If you are living in countries where these take place, anytime and anywhere. As at the services work, kindly make your donations to last count, donations from Mobile phones alone the Haiti Relief efforts by sending your already exceeded 24million USD with more donations to the following organizations Via than 2.5million people texting $10 for the Haiti your Mobile Phone: relief efforts which is added to the monthly bill. Small donations are making big impacts in Kenya Red Cross Society via MPESA Haiti. Business Number 508000 I spoke with many Africans, Living in Africa if Glo Nigeria Text Haiti short code 33090 they made any donations towards the Relief ACLJ Text ACLJ to 90999 to give $10 efforts of our Brothers and Sisters in Haiti, the Compassion International Text DISASTER answer was negative with only a few positives to 90999 to give $10 from Kenya and South Africa. Safaricom, Family Health International Text FHI to MPESA's parent company had set up a 90999 to give $5 donation account for Kenyans to make FAMU Text RELIEF to 50555 to give $5 donations via Mobile Money platform, MPESA Florida Hospital Text MISSION to 90999 to and Glo in Nigeria later did same in Nigeria. give $5 The Main reason for not contributing to the donation is that they have ability to donate Friends of the World Food Program Text between 1 10 USD (willingness) but they do FRIENDS to 90999 to give $5 not have the means ( access ) to make such Leon H. Sullivan Foundation Text small value transaction, cheaply without having SUMMIT to 90999 to give $% to travel to a Bank, stay on queue, leave their Rotary Foundation Text ROTARY to 90999 Jobs for hours, travel to next town to visit the to give $5 Bank but they all have a Mobile Phone, United Nations Foundation Text CERF to actually conducted this short interview via 90999 to give $5 mobile phone teleconference and SMS, talking United Way Text HAITI to 864833 to give to 35 people in seven countries. $5 When Final donation statistics are taken, Africa You may also visit http://haiti.ushahidi.com, powered by will most likely record least contributions to a Clickatell to Donate, Volunteer, Submit a Report, Track country that is more connected to them, racially Information, Register Missing Persons, and Receive SMS and Historically than any other Nation on the alerts www.mobilemoneyafrica.com March 2010 | 7
  • 4. Around the World in 30 Days INTELLIGENT ENVIRONMENTS SET TO CHALLENGE MONITISE IN UK M-BANKING UK-based fintech vendor Intelligent Environments is set to take on Monitise after raising £0.75 million through a share placing to fund development of a new mobile banking platform. IE says its new offering will provide a secure, branded platform, enabling consumer banking customers to see their banking details across all of their accounts from current, saving to credit card as well as a complete summary of account activity which will include money in, money out , pending transactions, available balances as well as overdraft limits. The vendor is currently recruiting a development team, with a completed mobile banking solution scheduled for launch in April. The lead platform will be the Apple iPhone, followed quickly by support for the Android, Blackberry and Windows mobile platforms. Mobile revenues will be generated from installation fees as well as from a transaction based fee calculated by the number of registered users. The new service will pitch IE head-to-head with Monitise, which has a large installed base of customers in the UK and US. In December, Monitise reported two million transactions per month from the 1.3 million registered users of the platform. Despite this, the vendor continues to lose money. In its interim statement for the half-year earlier this week, Monitise reported widening losses of £6.9 million, up from £6 million in the same period a year ago. UTIBA LAUNCHES UTIBA AMERICAS, EXPANDING ITS PRESENCE INTO THE AMERICAS AND THE CARIBBEAN Utiba Pte. Ltd., a leading global supplier of mobile financial transaction platforms for mobile operators and financial institutions, announced that the Company has entered into a joint-venture with Alternet Systems, Inc., a leader in hosted application services in the Americas. The joint-venture, Utiba Americas, will deploy a Software as a Service (SaaS) platform in the Americas and the Caribbean region focused on mCommerce and mobile financial services. In the joint-venture, Utiba contributes its proprietary software, operational and commercial expertise, and experience in managing successful and speedy implementations of mobile financial and payment services while Alternet provides local management, technical and marketing resources, regional presence in over 16 countries, and extensive experience providing hosted applications. www.mobilemoneyafrica.com March 2010 | 8
  • 5. MOBILE MONEY FACES PLASTIC under and un-banked populations. BARRIERS IN EUROPE Within the first few months of operation, uptake is expected to be high for the new The ubiquity of the credit card and the impact Secure SMS/Text Mobile Banking program of the recession mean the move to use a mobile launched via CellTrust's Global SecureSMS phone to make payments and conduct banking Gateway. The pilot will allow end-users to is likely to be a slow and tortuous affair in make mobile cash transfers, payments and Europe. securely access other microfinance banking The use of the cellphone to transfer money in products. emerging markets in Africa, India and Latin America has taken off strongly in recent years as operators provide services to millions who otherwise would have little access to a bank. ZAIN GETS GSMA AWARD FOR MOBILE But in Europe mobile payments have barely BANKING SERVICE moved beyond the trial stage and many industry executives believe consumers will Kuwait-based telecom firm Zain said only make mobile payments in certain niche it has bagged an award from the situations in the short term, potentially denying World Mobile Congress in Barcelona operators a way to increase customer loyalty for its contribution in mobile and gain additional revenues. banking services. "(Mobile money) is going to be a longer slog Zain is currently in exclusive talks with Bharti that takes more brain power and maybe more Airtel till March 25 for selling its African commitment than a lot of the operators are used assets. to putting into value-added services," Mark It has won the inaugural GSMA's 2010 "mobile Pickens, an analyst at the microfinance centre money for the unbanked service" award for its CGAP based at the World Bank, told Reuters. mobile commerce service. "You can't do it on the cheap, it's not a This is a new category of award that recognizes ringtone." Juniper Research estimates that more innovative mobile banking around the world than 500 million people around the world will that pioneers the roll-out of low-cost financial use mobile money transfer services by 2014, services to millions of people, in countries principally in developing countries, but where traditional financial services are either forecasters are reluctant to predict figures for not within easy reach or unavailable, Zain said Europe due to the slow uptake. The telecom in a statement. trade body GSMA predicts that operators could make $5 billion from financial services by "Not only are we pushing the boundaries of "banking" 364 million unbanked people by where the mobile phone can take us, we are 2012. showing that we can improve lives and make sustainable economic contributions in the countries where we operate," Zain Africa CEO Chris Gabriel said. Celltrust unveils secureSMS mobile banking and payment pilot in Africa to secure branchless banking for the under and un- NOKIA COLLABORATES WITH YES BANK banked TO BRING NOKIA MONEY PILOT TO INDIA Nokia users in India may CellTrust Corporation , the leading supplier of now find money secure mobile messaging and applications, has transferring in India to be announced the launch of its SecureSMS Mobile seemingly easier than ever. Banking and Payment Pilot for the African Nokia has partnered with region. CellTrust recently partnered with Yes Bank to come up with a live commercial Maxim-Pro Ltd. , based in Abuja, Nigeria, to pilot scheme of Nokia Money in India. secure and mobile enable their successful A trial version of the scheme would mark its banking platform with the view to extending debut in Pune, one of metropolitan places in secure mobile banking and payment services to India. This scheme would be named as the www.mobilemoneyafrica.com March 2010 | 11
  • 6. Mobile Money Services by Yes Bank. A video explaining about the service is provided in Nokia Conversations. VODAFONE LAUNCHES TWO LOW COST “The Nokia Money initiative based on MOBILE PHONES Obopay's platform is initially targeted at growth markets and designed to work in Vodafone has launched two partnership with multiple network operators affordable mobiles, Vodafone 150 and banks, involving distributors and and Vodafone 250 which are merchants in a dynamic open ecosystem to believed to be among the cheapest seamlessly provide the new services. Yes Bank mobile handsets in the world. is our first partner in India to bring this service The handsets mainly aim customers in the to market,” commented, Teppo Paavola, VP developing world. The phones will be launched and General Manager of Mobile Financial first in India and six other African countries - Services at Nokia. the Democratic Republic of Congo, Kenya, The pilot scheme can enable users to transfer Mozambique, Qatar, South Africa and money to another person just by means of the individual's mobile phone number. Users can also pay their utility bills and top-up SIM cards. In future, a facility to pay for goods and services may also be available. MCHEK, FUNDAMO NOW CERTIFIED IN WESTERN UNION MOBILE VENDOR PROGRAM COMVIVA SELECTED TO PARTICIPATE The Western Union, Announced that it has certified two participants in its Mobile Vendor Program: India-based mChek and South Africa-based Fundamo. In addition, Western Union announced that it has selected Comviva, a leading provider of mobile value-added solutions in emerging markets in Asia, Africa and the Middle East, to participate in the program. www.mobilemoneyafrica.com December 2009 | 11
  • 7. FOCUS Globacom Launches Appeal For Haiti Quake Victims lobacom Launches Appeal For Haiti G the Haitian earthquake disaster has seen almost Quake Victims total destruction of the Haitian capital, Port-au- Prince and the loss of an estimated 200,000 lives. Globacom, Nigeria's leading national telecoms Announcing the commencement of the operator, has launched an appeal to raise funds to fundraising programme in Lagos, Globacom's support the rehabilitation of the unfortunate Group COO, Mr. Mohamed Jameel said the victims of the recent devastating earthquake in appeal was being made in order to ensure that Haiti. Nigerians have an opportunity to contribute their Described as one of the most devastating natural own quota to the salvage and rehabilitation effort disasters in recent human history and more being launched globally for the people of Haiti. massive in repercussion than the Asian tsunami, “This is a human disaster of almost unimaginable www.mobilemoneyafrica.com March 2010 | 14
  • 8. proportions and most Nigerians who are willing online campaign which will be run through the to help do not social networks such as Facebook, MySpace and know how to Twitter; while Classic 97.3 FM has committed to contribute help raise awareness by giving free hypes and towards the airtime. relief effort. To “We urge all Nigerians to help build awareness this end, we have for this campaign through their social networks decided to while other radio and television networks in the launch this country are also welcome to donate free airtime appeal by the to create awareness for this effort”, he said. creation of a Affirming its support for the project, The short code Nigerian Red Cross in a letter signed by its Head through which of Administration, Barrister (Mrs) Joy Umealor Nigerians can thanked Globacom for coming up with the unique make donations to help the Haitian people”, he initiative. said. “We want to express our appreciation to your He said the company is calling on all Nigerians, company for coming up with this initiative as the especially its subscribers to make contributions proceeds will be presented to the Red Cross at a of a minimum of N50 by sending the word HAITI media event towards assisting the unfortunate to the short code 33090 which has victims of the disaster. been specially created for the Thank you for purpose. Subscribers, however, partnering with us to are free to donate as many times provide humanitarian as they wish to the relief effort by assistance to the victims sending multiple SMS at the cost of this natural disaster”, of N50 per SMS. she stated. Jameel said that all donations Jameel concluded by made by Nigerians through the calling on all Nigerians short code will be presented on a to support the monthly basis on behalf of the Nigerian people to fundraising appeal by giving as much as they can the Nigerian Red Cross which is already on afford through the simple process of using their ground in Haiti via the International Committee phones to make donations to aid the people of of the Red Cross (ICRC). Haiti who tragically, have lost so much including He also gave the assurance that none of the homes and loved ones. proceeds will be withheld as the project is being undertaken on compassionate grounds and in line with Glo's corporate responsibility obligations. To indicate its seriousness and commitment, Jameel said Globacom has given support to an www.mobilemoneyafrica.com March 2010 | 15
  • 9. COUNTRY FOCUS COUNTRY FOCUS MMA: Share with Africans the strong which they are offering in Europe, Middle East compelling reason for eartholeum's foray into and Africa. technology and mobile payment systems? MMA: From your point of view, as an The banking infrastructure in Africa is low independent provider in the Mobile Money compared to the developed countries of the space, how can a non telcos and non Bank world, in terms of bank branches, point of sales operator like Eartholeum engage the Nigerian terminals and ATM points. However, there is a market? high level of mobile telephony penetration and this provides a veritable opportunity to gaining Our business model identifies that consumers unlimited access to financial services that were in Nigeria and Africa are now more not freely available. sophisticated and require world class standard The need to enhance security through services as obtainable worldwide; we have cashlessness, from the norm in Nigeria and therefore, adopted a business friendly model other African societies where almost all which recognizes business interdependency, financial transactions are cash based, brings to this makes us willing and ready to work with fore the imperative of Mobile Money that the different players in the mobile money reduces such risks inherent in a cash based space. society. Mobile Money democratizes access to Our platform is designed with interfaces that financial services. can support the backend of the various players Technology is all about finding solutions to in the mix, banks or telcos. Our product is life, enhancing convenience; For example the interoperable and helps us to focus on those invention of the wheel brought about a great who have not experienced the formal financial revolution in transportation. system, giving them access to the various Technology is about impacting people's life and financial services. So be it bank or telco, we this is highlighted in our vision and mission at have put together an ecosystem that is based on Eartholeum Networks two indices: Vision: To lead in the provision of electronic A. Value: Our motivation is to impact people's solutions and transaction channels for people in lives, which adds value to them and our Africa. product is the vehicle. There is no argument Mission: We provide secure, reliable & easy- where there is obvious value which we bring to to-use electronic transaction solutions and the table at all times. channels to support your lifestyle Because of our exposure to worldwide B. Collaboration: We view competition as advancement in terms of security, collaborators and or business model eases our authentication and convenience, vis-à-vis our market entry as we bring value and are already experience, we feel strongly compelled to working with a number of participants in the create the same ease, which we are doing mix: Financial institutions, Money transfer leveraging on various technologies and service providers, switch companies, partnerships worldwide to create an government agencies etc. environment that is world class, with a view to even surpassing global standards. MMA: How do you plan to bring Formal This we can confidently claim and has been financial services to millions of Nigeria? substantiated by our technical partners that the requirements we have tasked them to meet is an We have put together a very robust Agent operation far beyond their present services network that will be taking banking to your www.mobilemoneyafrica.com March 2010 | 16
  • 10. doorsteps. It gives individuals a touch point MMA : Any Regional or West African plans? where financial services can be anchored within their neighborhood. Our vision and mission statements make it clear The byline of our product “life is mobile” that, we have a pan African vision; because we carries the essence of our service delivery. We recognize that the challenges across Africa are want millions of Nigerians to harness an similar. Looking through Sub-Sahara Africa we ecosystem to access what hitherto was not have the same ideologies as it affects financial available to them. transaction, where cash plays a very prominent role. MMA: Educate us more on the regulatory In addition, there is no well rounded developed landscape as it affects Eartholeum? financial service delivery infrastructures, which has given rise to the high un-banked population According to the CBN Mobile Money within the continent. framework, 3 models were defined: Once the Nigerian market is well conquered we A. Bank Focused: Where a bank promotes her shall face the African frontier and according to localized product. our philosophy we are very open to exploring B. Bank Led: Where a bank or group of banks partnerships with other organizations within in conjunction with a service provider promotes other countries in Africa and beyond. a mobile payment product. C. Non Bank Led: Where a non financial institution partners with others (bank or telco) to promote a mobile payment. Contacts: We at Eartholeum can operate in any of these Office Address: models because we have an ecosystem that is 14b, Ahmed Onibudo Street interoperable and accommodate multi-players. Victoria Island, Lagos. We are not limited in any way and can function Website: www.eartholeum.com well in any of the CBN framework models. However, our overall objective is to deliver an Email: bolaadeyinka@eartholeum.com ecosystem that can accommodate millions of peterafam@eartholeum.com never served and under served Nigerians and info@eartholeum.com Africans, because we believe in collaboration. Tel: +234-1-4627961, 4627963 MMA: What services should 140 million Fax: 234-1-4611142 Nigerian be expecting in the next few months from the stables of Eartholeum? Nigerians should expect a reliable, secure and easy to use service from Eartholeum Networks Limited. Our platform will deliver the following: ? Person to person transfer on their mobile phones ? Utility payments from the confines and Bola Adeyinka Afam Peter convenience of their homes using their mobile CEO Chief Visionary phones officer ? Access financial services within their neighborhood etc. We are delivering a complete bouquet of effective, reliable and cost friendly product which resonate the word convenience. www.mobilemoneyafrica.com March 2010 | 17
  • 11. African Centre for Mobile Financial Inclusion - In formation Logo Contest coming soon with the sponsorship of RedcloudMoney www.redcloudmoney.com $2,000 USD to be won. Email kwest@mobilemoneyafrica.com to know more.
  • 12. ARTICLE INTERVIEW MobileMoney: Shape of things to come in Nigeria - Emannuel Okoegwale T he Nigerian Financial Regulator, Central Bank of Nigeria had since last year released the regulatory framework to guide the operations of potential mobile money operators in Nigeria. The policy guidelines though with some flaws but like all regulatory positions, prevailing situations always shape and influence review on a consistent Basis or on a need arise Basis. The poison pill CBN has clearly stated that the Banks are favored ahead of MNO's in the country’s Mobile Money space. MNO's will have to work with a licensed financial institution, therefore commercial Banks, micro finance and discount houses. MNO's in Nigeria are not known, not to be in the drivers seat for their own deployments but the regulators stand on this may not be final but it holds for now. Though the Banks do not understand 'low value' and 'High volume' Business platform required to run MMT platforms but capacity can be sourced elsewhere and quickly. The Alliances Globacom, one of Nigeria's most innovative MNO and second National carrier with operations in a couple of West African countries may join forces with ETBank which has a close ownership structure with Globacom. This relationship may be excellent for internal operations but may not deliver expected benefits for end users if the technology to be used is a combo of mobile, card and ATM. ETBank has a limited ATM and Branch Network in Nigeria. MTN, Africa's largest MNO with over 100 www.mobilemoneyafrica.com March 2010 | 19
  • 13. million subscribers in Africa and Middle East, network to promote it and developing is said to be working with GTBank. The Bank transaction channels on the MMT platform. If has proven to be a credible and trusted partner the Bank can overcome these two key for Mobile Money providers in West Africa challenges, Flashmecash may end up with impressive records with Txtpay in Ghana Occupying a space on the big league table of and Splash Mobile Money in Sierra Leone. The MMT providers in Nigeria. experiences in both market may count in local operations in Nigeria. Independent Providers Zain is actively zapping through Africa with MoneyBoxAfrica which is the only licensed recent addition of sierra Leone, Malawi and MobileMoney provider in Nigeria till date and Niger on the Zain zap Map. Zap has working utilizes the Paybox solutions will have to relationship with CITI Bank in some parts of square up against Celltrust, Easipay and the Africa but it may face significant challenges in Mobile money financial switch provider, Nigeria where the Bank is relatively unknown Eartholuem Networks . The individual efforts in retail Banking with limited Branch network of all these providers may further fragment the and non existent ATM network. May face Market but if they come together to Build a hindrance where ATM technology is required shared Agent Network consortium, they will be as cash out options. able to withstand or even surpass the commercial Banks in customers sign up and Regional corridor profitability. West Africa has strong cultural and economic utilizes the Paybox solutions will have to ties with millions of migrant labor crossing into square up against Celltrust, Easipay and the countries all across the region, all year round. Mobile money financial switch provider, Benin Republic alone accounts for more than Eartholuem Networks . The individual efforts 65% of Nigerian used car imports and also a of all these providers may further fragment the well developed transportation hub between Market but if they come together to Build a Lagos Accra in Ghana. shared Agent Network consortium, they will be Despite the huge potentials in the regional able to withstand or even surpass the economy, most of the Businesses are still commercial Banks in customers sign up and informal and like wise the remittances. profitability. Opportunities abound for MMT regional Hub to take advantage and explore the opportunities. Game Changers UBA Bank, a leading financial services provider in Nigeria with very ambitious African growth and a formidable regional Hub operations in West Africa is a strong contender in the MMT space with more than 7 million customers in Nigeria alone, close to 2,000 ATM across Nigeria, no other financial institution in West Africa is better positioned to champion the Bank led MMT provider in West Africa. First Bank, Nigeria's largest Bank by capitalization and a very strong retail sector, the Bank's solid knowledge of mass market and spread of Branch network positions the Bank as a formidable competition in the MMT space. Not to be left behind is FinBank's Flashmecash, Nigeria's first Mobile Money service, very secure and reliable but hampered by the market strategy which tied down the service in the Banking hall instead of developing agent www.mobilemoneyafrica.com March 2010 | 20
  • 14. JBB Research Report: The State of the Kenyan Mobile Entertainment Market: Going Beyond ???? Ringtones, Graphics, and Mobile games. 2009 Julien Blin JBB Research jblin@jbbresearch.com Price: $2000 Ph: +1 (424) 298 7012 October 2009
  • 15. ARTICLE COUNTRY FOCUS - Chris Kwan I was asked by Mr Emmanuel Okoegwale to write something for his magazine “mobilemoneyafrica” to which I am honored. To begin, I am from a Malaysia. And way back in 1999, I was fed up with local banks (and their correspondents) charging me transaction fees to pay someone overseas. I wanted something simple and on demand where I can pay anyone directly without any charges just like paying cash. Around that time, I was working on a program that uses pre-paid cards for payment over the Internet by email addresses. This was before paypal.com. It was a simple idea but I quickly saw the problem of offering an unbranded pre-paid card facing competitors like Amex/Visa/Mastercards. I needed something that is universal, simple and accessible (at anytime/anywhere) by anyone but without the costs. This lead me to realize the potential of telcos and the concept of inter-mobile payment solutions which is now embodied in my US Patent 7461010. Getting a patent means protection for ones idea and recognition as the inventor. However, the patenting process was tough, expensive and took me nearly 9 years. My pre-paid card system is still patent pending. While a Universal payment system is attractive, it has to be commercially viable and to maintain. The problem with financial transaction is that at some point the banks do not see any profit from dealing with clients who only want to make payment or receive them. That is why credit card was so popular with the banks as they can charge exorbitant interest. So for pure transactions, they will need to charge costs for handling money. Telcos on the other hand are inter-connected together to provide telecommunication services. This means that the Telcos' costs are sunken the day they put the cables underground or overhead. Therefore, unlike banks, Telcos are better suited to move data (or digital www.mobilemoneyafrica.com March 2010 | 22
  • 16. currency) around for the simple reason they are provide any infrastructure at all. It provides a the masters of communication. For example, it link to others and uses advertising technology is well known that telcos (Vodafone, Maxis) etc to match 'key-word' searches. Now the clever provides services for users to make payment to bit is where google charges its advertisers each other (provided they are with the same through a click on their links. My proposal is in service provider) or through an exit point such the same way when a payment is made (user to as a merchant or bank. But, this only solves the user over a mobile device), the recipient will substitution from banks for telcos but see an advertisement. One can see that the not the costs. potential of advertisement is to persuade and to fortify a brand name. Again, if there is a click I wanted a While a Universal syste through then this represent a charge to the m where payment any advertiser. The recipient could choose to avoid one can pay advertisement for a fee or to receive those that system is attractive, anyone on any are tailored for him in lieu. I am confident it has to different models could be found after much trial network free . The be commercially 'cur and error. rency' stays viable and in the telcos' to maintain syste Earlier, I dealt with digital 'currency' within the ms and the telcos are telco systems which are transferable freely. For regulated so that prepai a long time, only those with banking d/deposits are separately account connections would be able to send and receive able. However, putting this in 'money' in or out of the country via gateways practice is not easy. There are control by the same institutions offering credit considerable resistance to or debit facilities. The alternative of an Inter this; first by the banks and second mobile payment solution between different by the telcos themselves. From the banks, they telcos, is clearly to embrace non-bank users to are beginning to see competitions in the form receive and transfer around the world. The of a new technology which is beyond their advantage is not merely economical but also for control (just like the music industry). Some safety and to divest into different 'currencies' or banks like ANZ (in Cambodia) started their new opportunities. By being digital, almost all own mobile banking by using a mobile device transactions will be made recordable and to access users' accounts (WING - making traceable on demand by authorities. The money fair). Actually, this is mobile promise of a cashless world will require co- connectivity and not really mobile operations with the various telcos, regulators money. In this way, they still control over and to some extent; their account business while improving banks. In UK, I have access. Fundamentally, this is still a good seen the baby step step forward especially in developing towards this world in countries and similar examples in the form of an Philippines (Smart) etc. It is no surprise intermediary that telcos would love this business but negotiating payments they cannot find ways to pay users between different beyond their system. Some like telcos ( NTTDocomo has to acquire a banking www.payforituk.com) license and others work under license . with a bank. Nevertheless on both counts, these are still not free services. Some I hope, I have given traditional telcos do not even bother to venture you an insight to the future and I am confident into this business. Unfortunately for the latter, the next e-payment technology will come from this will be another repeat of missed Africa, given the greatest need. opportunities at the VOIP party. The greatest example of a successful network company is google which by the way does not www.mobilemoneyafrica.com March 2010 | 19 23
  • 17. Africa’s leading resource for Mobile Financial Inclusion 2010 Editorial Planner and Rate card. Reach Africa through effective marketing October November Edition Edition 248,000 250,000 Downloads Downloads Launched in June 2009, MobileMoneyAfrica is published monthly and it provides insightful coverage and commentary for the stakeholders in the emerging industry. Serving the mobile money ,technology financial institutions in Africa, Asia and Europe. The online version syndicates news from leading media platforms in Africa, supported by a network of 18 independent correspondents and 4 regional bureaus in Africa. No one covers Africa like MobileMoneyAfrica when it comes to reporting Mobile financial news in Africa. Editor emmanuel@mobilemoneyafrica.com 009 – 234 -8030-818-868
  • 18. Distribution Details Frequency: 12 x Per Annum Average Monthly Readership / Downloads : 250,000 Distribution Rate Card - West Africa – 22% Full Page Advert – $1,100 - Southern Africa – 15% Half Page - $700 - East Africa – 14% Quarter Page - $400 - North Africa – 8% Classified - $200 - Europe – 8% Annoucement - $600 - North America – 6.5% Centre Spread -$2,500 - India – 15.5% ½ Front Page - $600 - Middle East – 11% Back Page Full - $800 Special Edition - $6,500 Featured Interview - $770 ½ double page - $800 Calendar 2010 – Subject to change January - Outlook 2010 - Setting Mobile Money agenda for Africa in 2010 - Players to watch in 2010. Industry shapers. Available on 8th January, 2010 Advert closes January 2nd, 2010. February - Technology Providers - Showcasing Technology and software providers - Technology Comparism Available on 8th March, 2010 Advert closes February 29th, 2010 BANK DETAILS: GO MOBILE NIGERIA COMPANY, UNITED BANK FOR AFRICA PLC, LAGOS – NIGERIA. SwiftCode: UNAFNGLA. Beneficiary Account : 03550131001645
  • 19. - Hannes Vans resburg , CEO - Fundamo W hat is the genesis of millions that are left behind, all across Africa from formal financial inclusion? In a world where money influences almost Specifically, How can Fundamo’s technology help? Fundamo brings more than ten years of experience with multiple everything that we do, the deployments in Africa (as well as many others majority of people living in Africa do not have globally) to help access to basic resolve issues and overcome challenges. Our financial services. This means that they are expertise and technology locked into the have been tested in complex production constraints of a cash economy. It is extremely situations and our technology difficult for these is recognized as the leading platform with people to budget and plan their finances which to deploy these kinds effectively, to save in a of systems. We also have an approach of secure way, to send mony cost-effectively and collaboration where we work instantly etc. If we do with local companies as well as large multi- not solve this, the majority of people living in national Africa will remain technolo disenfranchised. An efficient, electronic money gy system is essential in compan order to defeat poverty on the continent. ies (like Accentu How Can mobile technology help? re and Sun) to Mobile telephony provides the ideal ensure infrastructure to deliver an that we electronic money system to millions because of have the following reasons. more It is almost ubiquitous (at least for areas where we have economic activity), the capital has already been spent to deploy the infrastructure, it is intuitive to use and it can deliver extremely ” compre hensive solutions. Do you see active participation of mobile operators in banking the secure solutions. unbanked in Africa? Many mobile operators have successfully www.mobilemoneyafrica.com March 2010 | 19 26
  • 20. deployed solutions and active production in a established business units to bring banking number of these. As far as I am aware, few services to the unbanked. companies (if any) have the Many more have plans. capacity and experience to tackle such an ambitious project and we are The financial institutions are slow on the thankful that MTN chose us for this project. mobile segment, is this deliberate strategy or they are still coming to Roll out status in Africa. terms with the mobile channel. Fundamo technology has now been deployed, or is in the process of To the contrary, many banks have moved fast. being deployed in 25 African countries. The In some instances banks technology is operated are leading the way in using mobile technology under various brands and with different to bank the un- (or business models. Sometimes our under-) banked. As an example, Standard Bank clients are mobile operators and sometimes in South Africa use banks, but all of them can Fundamo technology through a dedicated be assured of best of breed technology, high division (called Community caliber of support and Banking) to open bank accounts for people ongoing innovation. through retail outlets and this seems to be very popular. In other countries Thank you for your time and contribution. (like Nigeria and Zambia) we are also seeing a lot of activity and I appreciate. actions from banks. (both small and large). MTN and Fundamo relationship. MTN contracted Fundamo as a strategic supplier for the group to deploy MobileMoney (their financial services brand) in all of the 21 countries where MTN operate in an aggressive - Hannes Vans resburg , CEO - Fundamo rol l-out plan. This roll-out is on track and is probably one of the more ambitious roll-out projects on a Group basis in the world. The solution has been deployed in the majority of countries and is in www.mobilemoneyafrica.com March 2010 | 27
  • 21. THANK YOU FOR MAKING US Number One IN AFRICA www.mobilemoneyafrica.com

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