When did mobile money start in South Africa?
Inspired by the high uptake and sophistication of M-Pesa in Kenya and Tanzania, Vodacom and the Nedbank Group introduced the system in SA in 2010, with the hope of gaining a sizable market share of the 15 million unbanked South Africans who were economically active.
What is mobile money in Africa?
With mobile money, users can use their mobile phones to transfer money without a bank account. Deploying mobile money in Africa grants those in extreme poverty the chance to participate in financial transactions without a bank. Using mobile money in Africa has certain advantages.
When did mobile money start in Kenya?
March 2007
M-Pesa – “pesa”, which means “money” in Swahili – was launched by Vodafone’s Safaricom mobile operator in March 2007 as a platform for people to exchange airtime for goods and services and even money.
How many mobile money users are in Africa?
In the review period, registered mobile wallets in Africa topped 621 million, a 17% increase from 562 million captured in 2020. There are now over 184 million active mobile money wallets on the continent compared to 161 million accounts just over a year before.
Which country started mobile money in Africa?
Kenya
M-PESA was developed by Vodafone and first deployed by its Kenyan affiliate Safaricom. In May 2012, there were over 15 million customers of M-PESA in Kenya….Countries with a Mobile Money Presence.
| Currency ISO | Country | Currency |
|---|---|---|
| ZWD | Zimbabwe | Zimbabwean dollar |
When did mobile money start?
2009
Mobile money was first launched in Ghana in 2009 by MTN.
Which country is using mobile money?
M-PESA was developed by Vodafone and first deployed by its Kenyan affiliate Safaricom….Countries with a Mobile Money Presence.
| Currency ISO | Country | Currency |
|---|---|---|
| GHS | Ghana | Ghanaian cedi |
| GNF | Guinea | Guinean franc |
| XOF | Guinea-Bissau | CFA franc |
| XOF | Ivory Coast | CFA franc |
Which country started mobile money?
M-Pesa was first launched by the Kenyan mobile network operator Safaricom, where Vodafone is technically a minority shareholder (40%), in March 2007.
Which country has the most mobile money accounts?
More than half of the 310 live mobile money services in the world are in Africa.
Which country uses mobile money?
M-PESA was developed by Vodafone and first deployed by its Kenyan affiliate Safaricom….Countries with a Mobile Money Presence.
| Currency ISO | Country | Currency |
|---|---|---|
| ETB | Ethiopia | Ethiopian birr |
| XAF | Gabon | CFA franc |
| GHS | Ghana | Ghanaian cedi |
| GNF | Guinea | Guinean franc |
Who brought mobile money to Ghana?
MTN
Mobile money was first launched in Ghana in 2009 by MTN. Uptake has increased quickly since then, and today Ghana is one of the most mature mobile money markets outside East Africa.