South African-developed mobile money service, Mama Money, has expanded its operations Nigeria, Ghana and Tanzania, with three more countries billed for a launch.
Mama Money, which recently celebrated its second birthday an launched a new app, allows South African-based Zimbabweans to send money home using their mobiles.
Now Ghanaians, Tanzanians and Nigerians living here can also do the same.
“Our platform, software and service solutions are developed for African and emerging economies where the rise and growth of mobile money is coupled with increasing demand for affordable legal money transfer. Mama Money has developed a sophisticated platform capable of processing money transfers reliably and securely,” said Mama Money co-founder, Raphael Grojnowski.
“Central to our success in the South Africa-Zimbabwe corridor is the Mama Money registration agent network, the inbound and outbound call centre, our vendor network within South Africa to accept payments in cash or electronically, and successful integration with Zimbabwe’s financial institutions and mobile money deployments,” he said.
In South Africa, people can register with the 650 Mama Money agents on the ground or with our primary retail partner which is PEP Stores. They can transfer at any of the retailer partners at 32 000 cash-in points or via bank transfer using a computer or mobile phone.
“In Zimbabwe, through Mama Money’s integration with financial institutions we are reaching 6 million mobile wallets and 2 million bank accounts,” Grojnowski added.
The expansion into other countries has been enabled by the company’s partnership with PEP, which has a strong footprint in Africa.
In Nigeria, Mama Money is connected to the 25 biggest banks and a mobile wallet called VKash. In Ghana, Mama Money is working with MTN Mobile Money and Airtel Money. In Tanzania, Mama Money’s launch partners are Vodacom M-Pesa, EzyPesa and Airtel Money.
The business will expand into Mozambique, Malawi and Kenya by April. It has also earmarked a country outside of Africa for entry later this year.