Tuesday
September 3
2019

M-Pesa Mulls Joining Nigeria’s Mobile Money Market

In a statement to the press, the interim CEO, Safaricom, Michael Joseph, has hinted to the possibility of M-PESA expanding into Nigeria with a possible partnership with existing telecom operators in the country. 

Recent reforms within the Central Bank of Nigeria now permit telecom operators to get mobile money and banking licenses in a bid to boost financial inclusion and facilitate the long-held ambition for a cashless society.
 
The above changes the entire dynamic of the mobile money industry in Nigeria.
 
It will be recalled that one of the major Telcos in Nigeria MTN has received license to operate as a payment service bank.

Photo courtesy of ICT4D.at

Source: Proshare Nigeria (link opens in a new window)

Categories
Finance
Tags
emerging markets, fintech, mobile money, MTN, Safaricom, telecommunications