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Mobile Banking Services In Africa: The Emergence of Mobile Savings, Credit and Insurance

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Summary

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.

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.

- The mobile credit market has two commercial models: some MNOs have created strong partnerships with financial institutions to offer credit facilities via their mobile money systems, while others provide extra airtime when customers are running out of credit.

- Finally, the mobile insurance market offers four commercial models, ranging from the traditional pay for premium and freemium models, to the emergence of new commercial schemes.

Synopsis

Mobile Banking Services in Africa: The Emergence of Mobile Savings, Credit and Insurance report provides an overview of mobile banking services and covers the approach of telcos seeking to leverage the mobile banking opportunity.

It consists of

- Key challenges and opportunities surrounding regulatory frameworks.

- Overview of the current mobile money environment and factors including competition, product line extension and the emergence of business models for the provisioning of mobile banking services.

- Overview and discussion on the commercial models for mobile savings, credits and insurance including case studies for mobile savings, credits and insurance.

- Key analysis and findings based on the study of mobile banking services in the region and a set of recommendations for mobile operators.

Reasons To Buy

- Gain understanding of mobile banking services and its evolution in Africa, to succeed in the existing market.

- Align product portfolios by analyzing the various commercial models being used for mobile banking services.

- Fasten the decision making process by understanding the factors associated in the provisioning of mobile banking services.

- Gain understanding of the competitive landscape and successful strategies, to strengthen your positioning in the market wrt existing operators.

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


List Of Figures

Exhibit 1: % of Population aged 15+ with an account at a financial institution, 2014
 Exhibit 2: Mobile money account penetration in Africa - 2014
 Exhibit 3: Main Trends in the mobile money market
 Exhibit 4: Road toward the provision of mobile banking services
 Exhibit 5: % of countries in specific regions with mobile money availability, 2014
 Exhibit 6: Number of live mobile money services in Africa, 2014
 Exhibit 7: Different types of mobile money services present in Africa
 Exhibit 8: Volume vs. Value transactions in mobile money service portfolio
 Exhibit 9: Mobile money business models
 Exhibit 10: Mobile savings, credit and insurance case studies
 Exhibit 11: Adults who saved at a financial institution, 2014. Geographical regions
 cover developing economies only + high-Income OECD.
 Exhibit 12: Mobile savings commercial models
 Exhibit 13: Tigo Wekeza savings mechanism
 Exhibit 14: Tigo Wekeza advertising campaign
 Exhibit 15: M-Shwari lock savings interest rates
 Exhibit 16: M-Shwari milestones
 Exhibit 17: Adults who borrowed from a financial institution, 2014. Geographical regions cover developing economies only + high-Income OECD.
 Exhibit 18: Mobile credit commercial models
 Exhibit 19: EcoCash customers and value of transactions
 Exhibit 20: EcoCash loans advertising
 Exhibit 21: Orange Emergency credit customer journey: Orange Mauritius example
 Exhibit 22: Adults who purchased health insurance, 2011. Geographical regions cover developing economies only
 Exhibit 23: Mobile insurance commercial models
 Exhibit 24: Airtel insurance schemes
 Exhibit 25: Examples of fees applied to insured
 Exhibit 26: Examples of crops and risks customers can cover


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Reports Details

Published Date : Sep 2015
No. of Pages :28
Country :South Africa
Category :Telecommunications
Publisher :Pyramid Research
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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