MMT Africa in Kenya proves mobile money transfer industry maturing on the continent

March 2, 2011 - PRLog -- Some of Africa’s top mobile money transfer operators, financial institutions and high-tech innovators will gather for the annual MMT Africa conference and expo from 10-11 May in Nairobi, Kenya which is still considered THE hub for mobile money transfer initiative and success.  

MMT Africa’s project director Andrea Monteiro says Kenya remains the first choice to gather the leading names in the industry:  “Kenyan MMT programmes are a source of inspiration for those moving into this space and with new licences being issued and the announcement of new MMT programmes throughout Africa, new entrants to the market stand to learn a lot from Kenyan initiatives.”

Mobile money transfers to exceed US$200 billion by 2015
According to Andrea Monteiro, the total value of mobile money transfers in Africa is set to exceed US$200 billion by 2015, representing almost 8% of Africa’s nominal GDP.  She continues:  “this increase is largely attributed to users’ growing trust in the mobile money system, as well as a wider availability of mobile money services.  In order to capitalise on this opportunity, both well established mobile money programmes as well as new entrants to the market are now focussed on streamlining distribution processes, ensuring profitability and encouraging usage.”  

Andrea says the conference programme reflects this growing maturity of the MMT market.  She says:  “we are focusing on key areas such as better management of agency networks, regulatory updates throughout the region, understanding how to make money from mobile money, understanding how to reach out to new customers, educating them on the benefits of mobile money and encouraging them to use the services.”

Nigeria:  the next MMT frontier
MMT Africa’s Andrea Monteiro says Nigeria is the next country to watch in the industry.  She continues:  “these are very exciting times for the Nigerian mobile money market.  In the last year, the Central Bank of Nigeria has issued several new mobile money licences to companies in Nigeria - we are about to see serious amounts of investment in this area and really interesting new initiatives. Nigeria is one of the largest telecoms markets in Africa and we will definitely be keeping an eye on developments in the market and be able to give some expert insight on some of the initial results in Nairobi in May.”

Industry experts who will address recent market developments at MMT Africa include:

•  Betty Mwangi-Thuo, Chief Officer New Products Division, Safaricom
•  Tunde Lemo, Deputy Governor, Banking Operations, Central Bank of Nigeria
•  Kioko Musyimi, Director Cash Management for East Africa, Citigroup
•  Hashim Mukudi, MCommerce Head of Department, Zantel Tanzania
•  Snehar Shah, Head of Orange Money, Telkom Kenya
•  Yolande Van Wyk, CEO: Smart Services First National Bank
•  Benson Wandario, Head Mobile Money Transfer - Distribution, Essar Telecom Kenya
•  Jacques Voogt, HOD: Financial Services, Vodacom Tanzania

Event dates:  
11-12 May – conference days
10 May – Pre-conference Mobile Money Academy
13 May – Post conference site visit

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