While Kenya was the first to launch mobile money in the world, its mobile money operators have not been able to agree on cross-network transactions, Tanzania has today overtaken it with the launch of Africa’s first cross-network mobile money platform.
The deal, the first ever deal in Africa and expected to begin this month, will see Tigo Pesa, Airtel Money or EzyPesa customers send money to each other with ease.
According to Hans-Holger Albrecht, Millicom’s President and CEO, “We are delighted to work with our counterparts to extend the mobile money universe in Tanzania. With this agreement we can help make Tanzania a global pioneer in digital financial inclusion. Interoperability will be a catalyst for growth in the mobile money sector and is long overdue. It’s an example to operators in other countries.”
The country sees the potential number of customers able to send money by mobile to each other in Tanzania, regardless of network, will increase to over sixteen million. In February 2014, Millicom launched cross-border transactions between Tanzania and Rwanda.