Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial services.
Telkom Kenya has called on the industry regulator to ensure a level playing field, weeks after the company abandoned plans to combine operations with Airtel Africa’s domestic unit.
Mobile money is the fastest growing source of income for network operators such as MTN and Safaricom, outpacing data.
MTN South Africa is making “good progress” in its plans to relaunch mobile money services in South Africa, according to group CEO Rob Shuter.
African telecommunications authorities must walk a fine line when it comes to regulating the move of mobile operators into financial services.
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