Nigerian eBanking solutions expert, Femi Adeoti, has expressed
optimism that Nigeria, with its over 114 million telecoms subscribers, can
surpass Kenya in the adoption of mobile money transfer services if the right
policy are in place and if network infrastructure operators and the licensed
mobile money operators are given the right support.
Mobile money became viral in Kenya after the introduction of
M-pesa in 2007 by Safaricom; to drive mobile money transactions. Since then,
huge success has been recorded, as virtually all financial transactions in low
and high places are largely dependent on mobile. Market women, artisans and
students, including corporate organisations and the Small and Medium
Enterprises (SMEs), have fully embraced mobile money transactions in Kenya.
On the other hand, Nigeria adopted the cashless initiative
in 2011, beginning with Lagos and in 2013, extended it to few other cities. Experts
say the take off and adoption rate have been slow.
Adeoti, who is also the Chief Executive Officer of Inlaks
Computers, said, “The success recorded in Kenya could also be surpassed in
Nigeria with favourable government policy and reliable network infrastructure
operators. Mobile banking and mobile money are breaking down boundaries and
with Temenos banking and cloud solutions, we can attain success in our cashless
initiative that is designed to boost financial inclusion.”
He added that mobile money remained a huge and untapped
opportunity in the country, but that its success would hinge on the wide
acceptability of mobile device.
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