The Impact of Non-Exclusivity on Mobile Money Operators in Cameroon

The Mobile Money sector, just like the remittance sector, in Cameroon is experiencing a disruption due to non-exclusive contracts signed between Mobile Money operators (Orange Money, MTN Mobile Money, Express Union Mobile) and the same partners (ENEO, Express Exchange, Total Petrol Stations, etc.)

An example of such non-exclusive deals include: Exchange Exchange’s deal with Orange Money and MTN Mobile Money, ENEO’s deal with Orange Money, MTN Mobile Money and Express Union Mobile and Total Petrol Station’s deal with MTN Mobile Money and Orange Money.

This non-exclusivity shall, thus, tighten competition in the market since the Mobile Money operators understand consumer needs. Furthermore, it shall also attract pressure from the consumers for price reduction since they will have more than one operator’s services to choose from. In addition, the Mobile Money partners shall be obliged to personalize their promotion campaigns and adapt their products to attract their target market.




WorldRemit: Online Money Transfer, a Solution to Contain Illicit Financial Transactions

The WorldRemit Chief, Ismail Ahmed, says his online money transfer application is one of the fastest, safest, and most convenient tools in providing remittance services. In addition to money transfer, the WorldRemit App also plays a vital role in containing illicit financial transactions such as money laundering. According to Mr. Ismail Ahmed, online transfers do not deal with physical cash but digital platforms which keep a record of the users’ account information and IP addresses. This makes it is easy for the authorities to track the origin of any suspicious transaction.

This is also a call to other money transfer operators such as Western Union and MoneyGram to develop more solutions which will not only enhance remittance services but also contribute in securing the sector.

WorldRemit which was launched in 2010 has raised about USD 147 million in the last 2 years. This is thanks to an extensive network present in 50 sending countries and 125 receiving countries in Western Europe, Africa, the Americas, Australia, etc. Its partnerships with major Mobile Money operators such as: M-PESA, MTN Mobile Money, EcoCash, Tigo, etc. in Africa have also played a significant role in positioning WorldRemit as the world leader in mobile money transfers.



Rwanda: MobiCash Partners with Rwanda Cooperative Agency for Payments

The Rwanda Cooperative Agency (RCA), which regulates SACCOs entered a partnership with MobiCash to offer E-payment services to the unbanked and under-banked population. MobiCash's technology covers a wide variety of uses and offers services that can be used whether or not one has a bank account or a mobile phone.

Given that there are currently 416 Umurenge SACCOs spread out across the country, out of which 122 so far have signed up to use the MobiCash platform, the move is seen by the agency as a way to boost financial inclusion while promoting a cashless economy simultaneously. According to the Director of the SACCO Coordination unit at RCA, since SACCOs are closer to the people at grass-root level, it will now be easy for people to use MobiCash's technology to carry out transactions such as making their Rwanda Revenue Authority (RRA) payments (both fiscal and non-fiscal) at their convenience.

As for the MobiCash Rwanda Chief Executive Officer, they are committed to bringing fundamental innovation, convenience and easy access to banking and payment services to "everybody" especially those not served by financial institutions and regardless their financial status (the Unbanked), thus deepening the financial sector.



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