MTN Zambia Mobile money hits a 2,000,000 active user base while MTN SA is struggling, only progressing to relaunch the mobile money service in South Africa which was shut down in 2016.
MTN has enjoyed success with Mobile Money in several markets across Africa especially countries like Tanzania and Kenya. Referring to the statistics provided to Forbes MTN had 24.1-million active Mobile Money users in 14 countries at the end of June 2018. East and Central Africa had a greater share.
Unlike South Africa struggling with Mobile Money services because they have a more relatively developed financial sector, Zambia has seen more growth and adoption in Mobile Money services. And since MTN introduced the service the active user base has ever been on the rise despite the high fees charged on transactions.
Early last year in 2018 MTN mobile money active subscriber reached a million milestone only competing with Airtel Money trending on an active base of 1,3000,000 subscribers.
In 2017 the GSM Association said over half of all mobile money services in the world are in Sub-Saharan Africa, which remains the fastest-growing mobile market in the world. The region is expected to have 500-million cellphone subscribers by 2020.
In Zambia, Zamtel, Airtel and MTN are all tapping into this financial inclusion with activities representing who gets a larger share.
What Is Mobile Money? How is it working for you? Are the Mobile charges fair?