Exploring the African Digital Financial Services Landscape
The African digital financial services landscape has seen significant growth, with mobile money becoming a global success story, especially in Sub-Saharan Africa. The success factors include positive regulatory approaches, executive commitment, interconnected services, and compelling use cases like M-Louma and Rain for Africa. Looking ahead, key trends involve enhancing customer value, diversification of financial services, adapting to complex regulatory frameworks, and expanding the mobile money value proposition.
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Presentation Transcript
The African Digital Financial Services Landscape
The history of mobile money in Africa In the last decade, mobile money has become a global success story. Half of all countries where mobile money is available are in Africa with Sub-Saharan Africa being a major player. 2006 2 mobile money services in Africa 2 African countries 2016 39 African countries mobile money deployments 100m Registered mobile money accounts Active users in Sub-Saharan Africa 277m 140
What should we continue doing? Key macro-perspective components explaining mobile money success in African markets Positive regulatory approaches & enabling landscape Executive commitment & investment Interconnected services Compelling use cases
Use Cases M-Louma is a marketplace for farming products using Orange s USSD Store in SGR-Kenya also uses USSD, allowing consumers to book and Senegal. The agtech platform connects farmers to customers by displaying real- purchase their train tickets through its integrated mobile money time market prices and localisation. Farmers can subscribe directly by dialling a transfer system (M-PESA) USSD code. Rain for Africa aims at providing agricultural advisory services to M-farm is a USSD application that allows farmers to send text messages farmers based on weather and climate information gathered on the requesting information about crop prices. It also connects with farmers with nearby buyers, allowing efficient sale of produce. farmer s location. Farmers can receive the information via USSD directly on their mobile phone.
CREDIT SAVINGS INSURANCE POINTS
What should we be doing? Looking forward - key trends Enhancing customer value Diversification of the financial services landscape Complex regulatory frameworks Expansion of the mobile money value proposition
