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Safaricomの財務諸表から読み解くM-PESAの収益性
Nov 20, 2010
Yasuhiro Sasaki
*
1.Introduction
a. ケニアの携帯市場概要
b. Safaricomの概要
c. M-PESAの概要
2.サファリコムの収益構造
a. 2009年度 決算 財務諸表の概説
b. M-PESAの収益性
3.M-PESA事業の展望
a. ソーシャルインパクトの測定
b. 事業としての拡張性
c. ブランチレスバンキングは世界を変えるか?
*
1.Introduction
a. ケニアの携帯市場概要
b. Safaricomの概要
c. M-PESAの概要
2.サファリコムの収益構造
a. 2009年度 決算 財務諸表の概説
b. M-PESAの収益性
3.M-PESA事業の展望
a. ソーシャルインパクトの測定
b. 事業としての拡張性
c. ブランチレスバンキングは世界を変えるか?
*携帯電話の普及率は約50%(2010年3月末現在)
→ 約2,000万人(ケニアの総人口:約3,900万人)
*データ通信の割合は全体の10%未満
*世界で最も成長しているマーケットの一つ(サブサハラ全
般的に)
M-PESAとは・・・
正規の M-PESA 取次店に登録してお金を預け、セキュリティのための手段を整えた上で友人や家族に
テキストメッセージを送り、指定の Safaricom 取次店へ行ってお金を受け取るように指示できる。受
け取る側が Safaricom の顧客である必要はない。
携帯の決済プラットフォーム上のアカウントで以下の金融サービスを享受することができる。
1. 預金
2. 送金
3. 引出
4. “Air Time”(サファリコムの通話/SMSのプリペイドバリュー)の購入
5. スーパー等でのモノの購入
6. Equity Bank等、提携の金融機関の提供する金融サービスの享受
7. バルクペイメントサービス
8. 口座管理
「M-PESA」のサービスはもともと、英Vodafoneとイギリスの政府部門DFID(Department for
International Development)によって、”Deepening Challenge Fund”として共同で資金を供給されたパ
イロットとして作成された。ケニア以外にもVodafoneがグローバル展開している。
ケニア
Safaricomが2005年10月よりトライアルを開始
タンザニア
詳細不明
南アフリカ
Equity Bank等、提携の金融機関の提供する金融サービスの享受
アフガニスタン
VodafoneとRoshan(現地キャリア)が共同で2008年よりサービス開始。警察官への
給与支払いの用途で開始。ゴースト警官の存在と、”中抜き”が明らかになった。
上記以外にも、インドとエジプトでサービス展開を検討中。
*
1.Introduction
a. ケニアの携帯市場概要
b. Safaricomの概要
c. M-PESAの概要
2.サファリコムの収益構造
a. 2009年度 決算 財務諸表の概説
b. M-PESAの収益性
3.M-PESA事業の展望
a. ソーシャルインパクトの測定
b. 事業としての拡張性
c. ブランチレスバンキングは世界を変えるか?
1. LapTopとのセット販売
2. 安価なモデム・ルーターの提供
3. B2Bパッケージの提供
4. 大量のプロモーション効果
7.5b Ksh.のRevenue
M-PESAのARPUは79Ksh
*
1.Introduction
a. ケニアの携帯市場概要
b. Safaricomの概要
c. M-PESAの概要
2.サファリコムの収益構造
a. 2009年度 決算 財務諸表の概説
b. M-PESAの収益性
3.M-PESA事業の展望
a. ソーシャルインパクトの測定
b. 事業としての拡張性
c. ブランチレスバンキングは世界を変えるか?
元Microsoft CEOのビル・ゲイツの設立したBill & Melinda Gates
財団等が中心になり、ケニアで M-PESAの経済波及効果の測定の研
究を実施。
テーマは以下。
*共同体レベルでのM-PESAを使用したことによる経済波及効果の
存在を確認できるか?
*もしそうであれば、どのような波及効果が生まれているか?
*共同体レベルで潜在的に影響を与えているファクターは何か?
Community-Level Economic Effects of M-PESA in Kenya:
Initial Findings
下記の4つの効果を確認。
1. 地域経済の拡大
2. セキュリティの向上
3. 資本の蓄積
4. 事業環境
下記の11の副次効果を確認。
a. お金の循環
b. トランザクションコストの減少
c. お金の安全な保管
d. 食糧の安全
e. 人的資本の蓄積
f. 事業の拡大
g. 社会的資本の蓄積
h. 雇用機会の増大
i. 身体的な安全性の確保
j. 品質管理
k. セキュリティの向上
l. 資本の蓄積
m. 事業環境
• 水ビジネスの例
• C to Bの支払いオペレーションの確立
• M-PESA店舗の多事業展開
• 農耕機のレンタル
M-PESA
• 少額保険(生保・損保)
• 債券流通/株式売買
• くじの購入
• 公共料金の支払い
• 税金の徴収
金融プラットフォームとしての拡張性
他事業連携による拡張性
M-PESA IR資料
http://bit.ly/gUUNeJ
Community-Level Economic Effects of M-PESA in Kenya:
Initial Findings
http://bit.ly/egbItf
Safalicom / M-PESA on Wikipedia
http://en.wikipedia.org/wiki/M-Pesa
http://en.wikipedia.org/wiki/Safaricom
Etc..

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M pesa