Chief Executive Officer, EFInA, Ms. Modupe Ladipo
As part of efforts to create more awareness for mobile money services in the country, the Enhancing Financial Innovation and Access (EFInA) recently held a forum.
A statement at the weekend explained that the event titled: “Agent Networks: Opportunities for Mobile Money in the Distribution Value Chain,” was attended by licensed Mobile Money Operators (MMOs), Mobile Network Operators (MNOs), industry regulators, corporate organisations with large distribution networks, payments infrastructure service providers and trade associations, among others.
It explained that the key objectives of the forum was to educate organisations on the relevance of developing an agent network through their distributors; how mobile money can be used for payments; and create opportunities for potential strategic alliances between large corporates’ and mobile money operators.
Speaking at the event, Chief Executive Officer, EFInA, Ms. Modupe Ladipo, stated: “Mobile money will create a cheaper and more accessible electronic payment ecosystem that will broaden and deepen the financial sector.
“More importantly, an effective agent network will ensure that more people are financially included by increasing the number of access points for transactions, and reducing the cost of transacting, especially in the rural areas.
“A critical success factor for the uptake of Mobile Money is the proliferation of ubiquitous agents in as many communities as possible, so that consumers can transact safely and easily, close by to their home or place of work.”
Keynote speaker and Group Chief Executive Officer, CelPay Zambia, Mr. Lazarus Muchenje said: “Mobile money operators have a huge responsibility for expanding financial services in Nigeria.
“The Central Bank of Nigeria (CBN) is extremely proactive and has put in place the levers of success required for the mobile money operators to succeed in their endeavours. The challenge now is for them to ensure their business cases are sound, while having the right people and technology to support the implementation of their plans.”