The Orange Group and the MTN Group, two of the largest mobile money operators on the African continent, today announced the creation of a Mowali joint venture that will enable interoperability of payments across the continent. Mowali makes it possible to transfer funds between mobile money accounts, in real time and at a reduced cost, regardless of the operator.

Mowali will immediately benefit from MTN’s and Orange’s Mobile Money customer bases – more than 100 million accounts on 22 of the 46 markets in sub-Saharan Africa. Mowali is intended to enable interoperability beyond existing MTN markets and
Orange, to benefit 338 million mobile money customers in Africa.

Mowali is a platform that connects financial service providers and customers within a single network. It operates as a service company, open to any mobile money provider, in Africa, including banks, transfer operators
money and other financial service providers.

Mowali’s goal is to increase the use of mobile money services for users and merchants. Mowali allows the free flow of mobile money flows between accounts, regardless of the country and the operator. From the point of view of
customer, it means “I can pay or receive money from any mobile account, regardless of the carrier”. Interoperability will foster innovation in
the mobile financial services ecosystem across the continent.

For Stéphane Richard, CEO of Orange, “By offering total interoperability between the different platforms, Mowali is a significant step forward allowing mobile money to become a universal means of payment in Africa. Increase inclusion
using digital technologies is an essential element for Africa’s economic development, especially for the most remote communities. This solution embodies Orange’s ambition to be a major player in
digital transformation of the continent. By partnering with MTN, another leader in the African market, we are accelerating the pace of this transformation to the point of changing the lives of our customers by providing simpler, safer and more profitable services. ”

“One of MTN’s goals is to accelerate the penetration of mobile financial services in Africa, and Mowali is one way to achieve it. In addition, cooperation and partnerships of this kind are essential when seeking to accelerate development and overcome some of the challenges facing modern society.
confronted in terms of size, scope and complexity. This partnership
Orange is therefore an important step in affirming our substantial role in achieving the United Nations Sustainable Development Goals of
eliminate extreme poverty and strengthen socio-economic development in the markets in which we operate. This is how we will give our customers access to the fabulous digital world of tomorrow. Said Rob Shuter, CEO of MTN Group.

The GSMA supports the Mowali initiative, with interoperability being a key accelerator for financial inclusion and the development of mobile money usage across Africa.

“There are more than 690 million mobile money accounts in the world today. These have become an essential tool that is changing the lives of consumers across Africa by providing access to secure and secure financial services, as well as opportunities for energy, health, education and education. employment. The creation of Mowali is helping to further transform mobile financial services across the African continent. It demonstrates the leadership and ongoing commitment of the mobile industry in promoting financial inclusion and building economic capacity through collaboration among industry players. The GSMA is therefore proud to support the development of Mowali, “said Mats Granryd, Executive Director
of the GSMA.

“The interoperability of mobile payments to support financial inclusion has been the most difficult hurdle for the financial services sector. With Mowali, Orange and MTN provide a solution that will allow them, as well as
other companies, to extend digital financial services more rapidly across Africa for all, including disadvantaged people, “said Kosta Peric,
Deputy Director of Financial Services for the Underprivileged at the Bill & Melinda Gates Foundation. «This creation announces the arrival of a new wave of innovations
likely to reduce poverty and create economic opportunities. We are pleased that Mojaloop1 – an open source payment platform available to all industry operators – is helping to achieve this goal.

 

Leave a Reply

Your email address will not be published.

0 Shares
Share
Tweet
Share
+1