Vendor Highlight

Mobile Broadband Boost

As the demand for a smooth and seamless integration of Wi-Fi access becomes increasingly important part for the mobile broadband service, Ericsson has announced its 3GPP compliant Wi-Fi network access, control and management solutions.

Read more ...

Expert Talk

Securing Utilities Infrastructure

As a highly critical sector, the oil and gas infrastructure should be one of the most secure, both physically and digitally. This is not the case.

Read more ...

 

There are more mobile money accounts than bank accounts in Kenya, Madagascar, Tanzania and Uganda. There were  224 Million transactions totalling $4.6 Billion processed on mobile money platforms in one month, according to the GSMA’s findings of its second annual global mobile money adoption survey. According to the survey, the number of active mobile money users grew impressively.

mpesa

 

This exceeds the 196.3 million transactions performed by Paypal customers on average each month during Q3 2012. The mobile money industry continues to expand at an unparalleled rate, with 150 live mobile money services for the unbanked, 41 of which were launched in 2012. In addition, the industry is also becoming increasingly competitive, with 40 markets identified as having at least two different mobile money services available.


“The social impact of mobile money is already well documented, and our report last year offered the first global benchmarks on how many customers were using mobile money,” says Chris Locke, managing director, GSMA Mobile for Development.

Rapid Growth, Particularly in Sub-Saharan Africa

The survey counted 81.8 million registered customers globally and with the total number of deployments on a global basis growing by almost 38 per cent, an increasing number of deployments are also achieving significant scale. It identified six services with more than 1 million active customer accounts and in the last 12 months, three of these services have crossed the 1 million active customers threshold. The number of active customer accounts is now growing rapidly which is a positive sign indicating that customers are realising the benefits from mobile money services. There are 56.9 million registered customers in sub-Saharan Africa and in June 2012, there were twice as many mobile money users as Facebook users in the region. In terms of geographical spread, more than half of all countries in sub-Saharan Africa have live deployments and 37 per cent of the 166 mobile networks operators in the region have already launched mobile money. Mobile money services are available in 34 of the 47 countries in the region and penetration will continue to grow in the region, since the majority of planned deployments are also in sub-Saharan Africa.

Mobile Money Contributing to Financial Inclusion

Data within the report gives an interesting insight into the contribution of mobile money to financial inclusion globally. There are now more mobile money accounts than bank accounts in Kenya, Madagascar, Tanzania and Uganda, and more mobile money agent outlets than bank branches in at least 28 countries. With over 520,000 registered agent outlets, there are now as many mobile money outlets as Western Union points of sale. Further, in some countries, the total value of mobile money transactions is equivalent to a significant proportion of the country’s overall GDP; in June 2012, it was equivalent to more than 60 per cent of GDP in Kenya, more than 30 per cent of GDP in Tanzania and more than 20 per cent of GDP in Uganda.

---GSMA

 

 

You have no rights to post comments