Volume 1 | Issue IV
Win $2000 in ACMFI
Haiti: Mobile to the rescue.
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
Business Development, sales and Adverts
Mobile Financial services is shaping the new brave world. firstname.lastname@example.org
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
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.
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. email@example.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 firstname.lastname@example.org
Mobile Banking West Africa at Lagos Nigeria. 07508 429480
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
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
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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.
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
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
www.mobilemoneyafrica.com March 2010 | 8
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
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
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
www.mobilemoneyafrica.com December 2009 | 11
Haiti Quake Victims
lobacom Launches Appeal For Haiti
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
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
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
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
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: email@example.com
ecosystem that can accommodate millions of firstname.lastname@example.org
never served and under served Nigerians and email@example.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
Our platform will deliver the following:
? Person to person transfer on their mobile
? Utility payments from the confines and
Bola Adeyinka Afam Peter
convenience of their homes using their mobile
CEO Chief Visionary
? Access financial services within their
We are delivering a complete bouquet of
effective, reliable and cost friendly product
which resonate the word convenience.
www.mobilemoneyafrica.com March 2010 | 17
African Centre for
Mobile Financial Inclusion
- In formation
Logo Contest coming soon
the sponsorship of RedcloudMoney
to be won.
Email firstname.lastname@example.org to know more.
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.
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
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
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
JBB Research Report: The State of the Kenyan
Mobile Entertainment Market: Going Beyond
Ringtones, Graphics, and Mobile games.
Price: $2000 Ph: +1 (424) 298 7012
- Chris Kwan
I was asked by Mr
Emmanuel Okoegwale to
write something for his
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
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
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
Africa’s leading resource for Mobile Financial Inclusion
2010 Editorial Planner
and Rate card.
Reach Africa through effective marketing
Launched in June 2009, MobileMoneyAfrica is published monthly and it provides insightful
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Frequency: 12 x Per Annum
Average Monthly Readership / Downloads : 250,000
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- West Africa – 22% Full Page Advert – $1,100
- Southern Africa – 15% Half Page - $700
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- 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.
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February - Technology Providers
- Showcasing Technology and software providers
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- 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
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
How Can mobile technology help? re and
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
infrastructure, it is intuitive to use and it can
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
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
l-out plan. This
roll-out is on track and is probably one of the
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
THANK YOU FOR
Number One IN