Michael Wallis-Brown, Group Head for Ericsson Mobile Financial Services, recently highlighted Ericsson and MTN’s unique and game-changing collaboration. Unlike any other, this partnership is pioneering advancements in mobile financial services across the African continent.
Key Partnership Highlights:
Foundation for Mobile Money: Ericsson provides a robust infrastructure and software platform to support MTN’s mobile money services in various African markets. This foundational support is critical in delivering reliable and impactful financial services.
Broad Reach and Impact: Operating in 24 countries, 16 of which are in Africa, Ericsson’s Mobile Financial Services platform supports over 450 million registered wallets and handles transactions exceeding $500 billion. This immense scale underscores the platform’s unparalleled ability to drive MTN’s mobile money services across the continent.
Stability and User Confidence: Wallis-Brown underscored the unwavering stability provided by Ericsson’s platform, a testament to our commitment to reliability. This stability is crucial for users to adopt and benefit from mobile financial services confidently, enhancing both personal and business financial activities.
Regulatory Environment: A stable regulatory environment supports the mobile financial services ecosystem. It ensures that the infrastructure can thrive and expand effectively.
Commitment to Accessibility: Ericsson and MTN are unwavering in their dedication to educating markets and making services user-friendly. They provide access to technology through APIs, empowering local innovators to develop solutions tailored to the unique needs of African markets. This commitment is a testament to their focus on the African markets and their determination to make a difference.
Vision for the Future:
Despite significant progress, only 10 to 15 per cent of the market currently benefits from mobile financial services, with many areas still heavily reliant on cash. Wallis-Brown highlighted the importance of education in increasing adoption rates. Simplifying services and enhancing users’ knowledge can enable more individuals to leverage advanced financial offerings.
Ericsson envisions creating an inclusive financial ecosystem with partners like MTN. This ecosystem, designed to impact millions of lives, is not just a vision but a shared goal. With your support and engagement, we can offer essential financial services, such as job opportunities, loans, and money transfers, significantly improving daily life at the grassroots level.
Wallis-Brown’s vision focuses on fostering innovation and creating an environment where Africa can thrive. The partnership between Ericsson and MTN exemplifies the potential of combining technology with local expertise to drive meaningful change across the continent. By prioritising impactful financial services and strong partnerships, they are working to make Africa an incredibly innovative place to live, work, and do business.
