">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Friday, January 22, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

MTN South Africa to discontinue its mobile money service

Milcah Lukhanyu by Milcah Lukhanyu
4 years ago
in Tech, Telcos
4 min read
0

MTN_Logo_onlyMTN South Africa, the country’s second largest mobile network has pulled the plug on new mobile money sign ups in a move that might likely see the firm end the service totally.

According to Fin24, the firm has around 140,000 users and is no longer signing up new mobile money customers and is now reviewing its mobile money service.

“MTN can confirm that the platform is not available for new customers. MTN is currently in discussion with all relevant stakeholders to explore the feasibility of continuing with this service,” chief consumer officer at MTN SA Larry Annetts said in a statement emailed to Fin24.

MTN is not the first company to discontinue its mobile money service to its customers. In June this year, South Africa’s Vodacom discontinued its M-Pesa product after showing a little prospect of growth in the country.

Speaking about the decision, Shameel Joosub, Vodacom Chief Executive Officer, said “Vodacom’s decision is based on the fact that the business sustainability of M-Pesa is predicated on achieving a critical mass of users. Based on our revised projections and high levels of financial inclusion in South Africa there is little prospect of the M-Pesa product achieving this in its current format in the mid-term.”

MTN’s closure of the service does not come by surprise. Unlike other markets in Africa, South Africa has high financial inclusion rates limiting the use of mobile money. In Kenya, M-PESA has over 23 million customers and over 100,000 M-PESA Agent outlets countrywide and is taking centre stage as the country’s biggest payments service for both online and in-store purchases. Like a digital wallet, the service allows users in Kenya to send or receive money, pay for bills and transact easily, safely and conveniently using their mobile phones. M-PESA continues to lead the world in mobile money transfer. It has revolutionised the way Kenyans do business leading to more financial services such as M-Shwari, a savings and loan service among others.

READ  African Green Revolution Forum Secures $500 Million for Young ‘Agripreneurs’

.

Related posts

kplc

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
0
123movies

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021
0

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021
0
Readers 1,243

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: mobile moneyMTN GroupSouth Africa
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

kplc
Tech

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
0
123movies
Tech

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021
0
Tech

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0
Hacks & Facts

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021
0
Tech

Safaricom Will Allegedly Allow The National Intelligence To Illegally Forward Your Calls

January 20, 2021
0
Tech

Safaricom Foundation’s Ndoto Zetu Supports 2,000 Students in Six Counties 

January 20, 2021
0
Tech

Tatu City Partners with Konza to Attract Investors to Kenya

January 19, 2021
0
searchengineland.com
Tech

SEO for Beginners: Where to Start and What You Need

January 19, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Aerobotics Raises $17 Million Led by Naspers To Scale AI for Agriculture Globally

January 21, 2021

Tanzanian money remittance startup NALA is launching in the UK

January 21, 2021

Startup Guide to release of Startup Guide Nairobi

January 21, 2021

Nokia C1 Plus now available in Kenya for Ksh 9,000

January 21, 2021
kplc

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: