Viewpoint: Regulators Walk the ‘Mobile Money’ Line

Monday, August 5, 2019

By Larry Claasen

African telecom authorities must walk a fine line when it comes to regulating the move of mobile operators into financial services. They want to encourage this shift, but they also don’t want to be in a position where operators don’t have much oversight.

This is what’s happening in Kenya, where mobile money transfer services like Safaricom’s M-Pesa don’t operate under regulations specifically meant to govern these kinds of services.

M-Pesa was a game changer when it was launched in 2007, not only for Safaricom and Kenya – it enabled the transfer of nearly half of the country’s GDP – but also for African mobile operators.

Photo courtesy of Scott Mainwaring.

Source: Moneyweb (link opens in a new window)

Finance, Telecommunications
fintech, regulations, telecommunications