Mobile Banking Services In Africa: The Emergence of Mobile Savings, Credit and Insurance

Mobile Banking Services In Africa: The Emergence of Mobile Savings, Credit and Insurance
Septembre 2015
Type de Produit
Description du rapport

The mobile money market has been evolving quickly and the African region is witnessing the emergence of mobile banking services including savings, credit and insurance. Mobile money services has a huge potential for revenue generation for telcos, owing to relatively low penetration of banking services (around 29% of the population) and mobile phones (which is nearly 80% of the population). There were around 255 live mobile money services operating in 89 different countries in the region. Most of the leading operators in the region (like Safaricom, Orange, Vodacom etc) have developed their own mobile money services.

Key Findings

- The mobile savings market is driven by two distinct commercial models: the development of dedicated saving accounts, separated from the mobile wallet, and the distribution of interest based on money stored in the mobile wallet. In the second model, MNOs do not need to create specific partnerships with banks, and have full control of the operation.

- The mo

Table des matières

Executive summary


The importance of mobile money in Africa

Road toward the provision of mobile banking services


Product line extension

Alternative business models

Overview of mobile banking case studies

Mobile savings

Overview and commercial models

Tigo Wekeza in Tanzania

Safaricom M-Shwari in Kenya

Mobile credit

Overview and commercial models

Econet Wireless EcoCash loans in Zimbabwe

Orange Money Emergency Credit (pan-Africa)

Mobile insurance

Overview and commercial models

Airtel Mobile Insurance in Ghana

Safaricom Kilimo Salama in Kenya

Key findings and recommendations

Description de l'éditeur

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                 Sunil Sethia ssethia@globaldata.com