Mondato Africa Summit 2015
Date: 2 - 3 June 2015
Mobile Finance and Commerce (MFC) in Africa have traditionally targeted unbanked or underbanked populations at the base of the pyramid. From P2P transfers to airtime top-up and mobile bill payment, these products aimed to create more affordable and convenient financial services for those with a mobile phone, but limited access to formal financial institutions.
While “first generation” mobile money services are still strong and growing, we are also witnessing a new wave of MFC in many African countries. Increasingly, the middle class is expanding and with it a strong demand for mobile payment and m-commerce applications from both merchants and consumers. On the other side of the value chain, service providers are eager to expand into new areas of MFC in order to create new revenue streams
From MNOs and financial institutions to third-party technology providers, MFC stakeholders in these economies must re-evaluate how they can adapt to these shifting trends and ensure that they stay relevant. As African markets become increasingly diverse, how can MFC offerings similarly diversify to succeed over the long run?