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Telcos vs Fintechs: Competing for Financial Inclusion via Mobile Money

October 1 @ 12:00 am

Mobile money has played a significant role in improving financial inclusion worldwide over the last 10 years. As of December 2023, there were 1.75 billion registered accounts, around a quarter of which are actively used every month. However, according to the World Bank’s Global Findex 2021, over a billion people remain financially excluded. Simply by activating many inactive users, telco-based mobile money services could help to reduce the number of financially excluded individuals.

Originally offered by telcos, several mobile money services are now being offered by fintechs or other non-telcos. This has started to disrupt an industry that itself began to disrupt the traditional banking sector in many low- and middle-income countries. For example, Wave Money in Senegal has grown its market dominance at the expense of telco-led services. Despite the intense competition between telcos and non-telcos in West Africa, there is a significant financially excluded user base to capture. Which of these two mobile money models is likely to edge ahead in the battle to be the mobile money service of choice?

This event will bring together a telco-led mobile money provider, a non-telco-led mobile money provider and other industry players to debate which mobile money model is likely to succeed in the long-term, and why.


More details to follow / Date to be confirmed


October 1
12:00 am


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