While person-to-person (P2P) transfers, airtime top-ups, and utility bill payment gave tens of millions access to electronic payments for the first time, mobile money services can do much more. Mobile money is driving financial inclusion across the continent, and transforming lives as the previously unbanked are benefiting from mCommerce, credit, and insurance. This period of transition towards more advanced value propositions, however, may also involve a period of disruption as value chains are re-ordered and the convergence of sectors continues.
The pace of digitization is accelerating across Africa. Financial service providers are leveraging technology to create more personalized offerings beyond the front doors of their branch networks, and to target previously marginal customer segments. Commerce is more dynamic as digital marketplaces provide access to new customers, while consumers have a greater selection of products at better prices. And telecom providers are becoming platforms for a multitude of value-added services beyond traditional voice and data.
With Africa being very much a mobile-first region, these trends present the opportunity for the region to be a world leader in DFC innovation, and a laboratory for new value propositions to grow the addressable market and further drive adoption. Mondato Summit Africa (“MSA”) will unpack such key trends, highlight prevailing challenges and opportunities, and facilitate learning and networking to help players navigate and thrive in a fast evolving DFC marketplace.