The mobile money revolution

Another opportunity that opened up was creation of employment and making of careers out of mobile money.

 Mobile money has employed a large portion of the urban and rural youth hence reducing the dependency and unemployment rate.

For every Mobile money vendor opening shop is a window of opportunity.

Ironically, Banks have become a bigger beneficiary to this despite it being initially presumed as a major threat to their own existence.

Many commercial banks appeared to lose on customer deposit and accounts were left dormant for several commercial banks.

This forced banks to merge with some attempting to fight the mobile money trend with no actual success.

As we speak several Mobile money processing companies have cropped up to have a slice of the cake.

Company like Kopo Kopo Inc and other came up with a solution to process mobile money to merchants.

This craving to control mobile money has as well created a world class multi-billion financial switch that will become a model like Visa and MasterCard.

Banks have also made interest in taking up a license to operate a telecol just to make sure that Mobile money is well protected and to protect their interest.