OPINON: South Africa’s mobile money success requires telco, bank collaboration

Thursday, May 22, 2014

South African cellular companies must collaborate with banking institutions to ensure an increase in the uptake of mobile money services in the country, an Ericsson official has said.

The head of mobile commerce sales EMEA at Ericsson, Rajiv Bhatia, told ITWeb Africa that a large percentage of the South African population remains unbanked, opening up opportunities for M-Pesa-like services.

Survey results published by FinMark Trust last year said that 25% of South Africa’s 51 million population do not have bank accounts.

South Africa; though, has a small mobile money user population.

Source: ITWeb Africa (link opens in a new window)

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banking, financial inclusion, mobile banking