Albany, NY -- (SBWIRE) -- 07/11/2016 -- 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.

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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

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Table of Contents

Executive summary
Introduction
The importance of mobile money in Africa
Road toward the provision of mobile banking services
Competition
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

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