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Mobile money transfer success celebrated at MMT Africa in Nairobi next week

MMT Africa survey shows regulation and education key concerns in industry (May 03, 2011)
DMN Newswire--2011-5-3--Safaricoms CO of the New Products Division Betty Mwangi-Thuo heads up an impressive list of mobile money transfer professionals who will address the annual MMT Africa in Nairobi from 11 May at what is the mobile money transfer industrys top event on the continent. 

The MMT Africa conference and expo will gather more than 400 top industry experts, including service providers, banks, central banks and technology vendors and share their experiences.

Survey shows regulations a concern
In the run-up to the event, a survey by MMT Africa amongst mobile money transfer professionals on the continent
has revealed some interesting trends in the industry.  MMT Africa project director Andrea Monteiro says while mobile money transfer is becoming increasingly important as a revenue generating activity for companies, hick-ups with financial regulators are still a cause for concern.  She continues: More than 75% of those polled said mobile money services had become more important for their companies while more than 55% said MMT had become significantly more important as a source of revenue.

Technology is key

75% of the MMT professionals polled feel that technology plays an important role in the success of a mobile money programme.  ?This one will be good news to the vendors, says Andrea Monteiro, ?who now more than ever have the opportunity to influence the technology choices of new mobile money programmes.

Educating people about the benefits of MMT
MMT Africas Andrea Monteiro says the survey also highlights that the lack of education amongst consumers about the use of MMT technology was a still a concern.  Polled on how advanced customer awareness was, more than 30% of those polled said it was very poor, 25% moderate and just over 30% thought it was advanced.  Andrea Monteiro:  ?Awareness, use and knowledge of mobile money services - even though Africa is home to some of the world's pioneering mobile money initiatives - is still one of the key challenges in educating people about the benefits of mobile money and encouraging service uptake and usage.  This result highlights the disparity between the different stages of mobile money evolution and awareness throughout Africa.

Other top industry experts who will address recent market developments at MMT Africa include:

         Yolande Van Wyk, CEO: Smart Services, First National Bank South Africa

         Tunde Lemo, Deputy Governor, Banking Operations, Central Bank of Nigeria

         Kioko Musyimi, Director Cash Management for East Africa, Citigroup

         Hashim Mukudi, MCommerce Head of Department, Zantel Tanzania

         Snehar Shah, Head of Orange Money, Telkom Kenya

         Benson Wandario, Head Mobile Money Transfer - Distribution, Essar Telecom Kenya

         Jacques Voogt, HOD: Financial Services, Vodacom Tanzania

Event dates:  
11-12 May conference days
10 May Pre-conference Mobile Money Academy
13 May Post conference site visit
Location:  Laico Regency Hotel, Loita Street, Uhuru Highway, Nairobi
Event website:  


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Related Keywords:MMT Africa, mobile money transfer, MMT technology, Nairobi, Kenya, Safaricom, Clarion Events

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