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

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

Code: PYR-TC0012IR | Published: Sep-2015 | Pages: 28 | GlobalData
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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.

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

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
Orange
Tigo
Safaricom
Econet Wireless
Airtel

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