Friday, 24 July 2015

Zim mobile money exceeds USD 2billion in 5 months



The value of transactions processed through mobile platforms in Zimbabwe surpassed USD 2 billion in the first five months of the year, the Herald reported. A January-May report from the Reserve Bank of Zimbabwe shows that mobile-based transactions were valued at USD 2.35 billion,. The service has become important, taking into account the fact that the country now has a thriving SME and informal sector (shadow economy) which is estimated to hold around USD 7 billion.



Mobile money transfers have created a vast opportunity for employment, in addition to convenience in the payment system and improved trade facilitation, which is critical for economic development. The mobile payments market has also grown from traditional money transfer services and now includes various forms of payments including bill payments. During the last three-and-a-half years, Econet moved USD 11 billion through Ecocash.

Source:http://www.telecompaper.com

Wednesday, 1 July 2015

Facebook opens its first office in Africa

Based in Melrose Arch, Facebook opened its first African office to further the company's commitment to help businesses connect with people. Ogilvy veteran, Nunu Ntshingila, will be the company's new Head of Africa.

Facebook's active user population in Africa has grown 20% to 120 million in June 2015 from 100 million in September 2014. More than 80% of these people access Facebook from their mobile phones.

Nunu Ntshingila

"We are inspired by the incredible ways people and businesses in Africa use Facebook to connect. This momentum in Africa comes on top of strong advertiser partnerships and excellent adoption of our products across all regions. In Q1 2015, 52% of our total ad revenue came from outside the US and Canada. But we're just getting started," says Nicola Mendelsohn, VP, EMEA, Facebook.

"Mobile is not a trend; it's the fastest development in communications we've ever seen. This couldn't be more true in Africa - where so many people are mobile-only. This new office is a significant milestone for Facebook and our teams want to partner with businesses across the continent," Mendelsohn adds.


Helping businesses grow


"Our new African office will support our customers across the continent. We know that a one-size-fits-all approach won't work when it comes to building products and solutions that address diverse needs on the continent, which is why we are committed to creating solutions tailored to people, businesses and specifically for African markets," says Ari Kesisoglu, Regional Director, MEA at Facebook.


Kesisoglu continued, "Our priority for the next few months is to continue the work we are already doing with some clients in this region. We will work more closely with businesses and agencies to understand the challenges, so that we can build solutions that help grow their business. People increasingly want to be connected to the world around them and desire information about new services and products to better their lives. At the same time, businesses need stronger, more flexible and less fragmented ways of reaching people in sub-Saharan Africa. Our mission will be to connect brands and consumers in Africa, creating value for all parties in the process."


Growth markets


Facebook will initially focus on growing its business in anchor countries in the major regions of sub-Saharan Africa: Kenya (East Africa), Nigeria (West Africa), and South Africa (Southern Africa). Other supported territories include Senegal, Ivory Coast, Ghana, Tanzania, Rwanda, Uganda, Zambia, Mozambique and Ethiopia.


Facebook will partner with governments, telecom operators, agencies and other stakeholders to deliver localised solutions to advertisers and users continent-wide. It will continue to focus on tailoring solutions, metrics and ad formats to the needs of customers and advertisers in the mobile-first, mobile-only African environment.


Source:http://www.bizcommunity.com