Where E-Commerce meets FinTech
Mobile money and other financial services are a high priority for many mobile operators, financial institutions, technology firms and governments. In Sub-Saharan Africa, mobile money promises a low-cost scalable alternative to traditional banking.
Only a small percentage of households make use of card-based, online and traditional banking. One survey conducted by Gallup suggests that more than 80% of adults have their bills in cash. The sheer amount of cash payments puts a burden on consumers, merchants, banks and governments – costs associated with processing, record keeping, counting, storage, transportation and security.
But, a lack of mobile technology is not the major obstacle to increasing mobile money penetration. More than two thirds of households in Sub-Saharan Africa have access to a mobile phone, and as regulators create more space for the non-traditional operators, the development of mobile financial services will leapfrog the traditional banking model.
The benefits of mobile money are three-fold:
1) More customers have access to a payment gateway and don’t require cash;
2) Lower costs and lower overheads for merchants;
3) Sell anything, anywhere with a mobile POS system.
Although mobile penetration is high, some infrastructure needs to be put into place to deposit cash or using mobile POS devices. Then there are issues around education, security and adoption. With an increasing number of retailers as well as government institutions adopting digital payment services, the more ubiquitous mobile money will become.
There is a clear demand for these digital services in Sub-Saharan Africa, allowing prime opportunity for those willing and able to invest in and build mobile money business.
“The e-commerce landscape in Africa is evolving so fast that it’s almost impossible to keep up. I have found the e-commerce Africa conference and exhibition to be one of the best ways to be informed and meet those who are making major disruptive and innovative changes in all aspects of e-commerce including a special new focus on fintech,” says Advisory Panel Member & Guest Speaker; Chris Folayan, CEO for MallForAfrica.
Where can I find more information on FinTech
At the eCommerce MoneyAfrica Confex 2017, you will hear from leaders in the fintech payments, peer-to-peer lending and financing sector during the Money Africa conference sessions.
Guest Speakers include:
- Dave van Niekerk, CEO of MyBucks
- Ronald Webb, Director: Financial Services & Head of M-PESA, Safaricom
- Dominique Collett, Senior Investment Executive, RMI Holdings
- Willington Munyaga, Head of IT, Bank of Africa Tanzania
- Bevan Ducasse, CEO, wiGroup
- Maimouna Gueye, Principal Financial Inclusion, African Development Bank
- Micheal G Mbuthia, CIO, Kenya Bankers Association
- Eric Anderson Mugo, Head of Fraud Management and Information Security, Chase Bank Kenya
- Johan Moolman, CEO, eBucks Rewards
- Johan Bosini, Managing Director, JUMO.WORLD
- Jero A. Omare-Ogah, Managing Director, Fortis Mobile Money
The e-commerce conference sessions will examine various aspects of development in the industry: how online and mobile retailers are capitalising on growth opportunities; how omni-channel retailers are moving into a digital space; where the consumer is driving their own experience; the realities and challenges of cross-border expansion; and overcoming fulfillment concerns and driving logistics in the real world.
Meet leading solution providers in this space, including: VISA, FNB, PayPal, One World Express, Oracle Marketing Cloud, eBucks, DPD Laser, Nedbank, Courier IT and WooCommerce.
The Annual eCommerce MoneyAfrica Confex, powered by Kinetic for a 3rd year, will again take place at the CTICC on 22-23 February 2017.
Want more information on this event?
See what we’ve written about this event : E-Commerce Africa Confex