• July 1, 2023

Africell Deepens Financial Inclusion in Africa

Africell Deepens Financial Inclusion in Africa
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As mobile money adoption, activity and accessibility in Angola and other countries in Africa are limited; Africell Mobile Company has changed the narrative by deepened financial inclusion in Angola through its mobile money service.

Angola’s large unbanked population have widely applauded Africell Mobile Company for the financial inclusion.

Despite the fact that Angola’s mobile money industry has more scope for growth than most countries in sub-Saharan Africa but it remains challenging for the unbanked population who are often people in marginalised or low-income communities who rely on cash.

With the launching of the Afrimoney service three months ago, it is already changing lives of people by extending essential financial tools to many of the approximately 50% of Angolans who don’t have bank accounts. Afrimoney is harnessing growing mobile penetration at all levels of Angolan society to offer users a simple, safe and accessible alternative, accessed through their mobile phones for executing rapid digital financial transactions including saving, transferring, spending and earning.

Just like in Sierra Leone and other countries in Africa, Africell has succeeded in changing lives by offering all the core mobile money use-cases: airtime, cash-in, cash-out, P2P transfers, as well as bill, bulk and merchant payments in Angola.

Exciting opportunities exist almost wherever you look in Africa. We are working with ambitious and innovative partners in a variety of sectors to accelerate the integration of mobile technology and explore creative new use-cases both for our core GSM services and for mobile money,” the Chief Executive officer of Africell Mobile Company said, adding that, Africa’s content, entertainment and streaming industry has obvious scope to benefit from digitisation, while clean energy, education and healthcare are other areas we are looking at with interest.

He continued by stating that Africell works closely with various arms of the United States government in addition to other international bodies to navigate issues arising in their operating markets.

“The compelling thing about telecommunications, particularly in an under-penetrated market, is that investment begets investment. In other words, as digitisation spreads, it accelerates, creating demand for further investment,” he added, stating further that as an operator, they want to invest in serving businesses; and the very fact that they have an opportunity to do so is proof of the “multiplier effect” of earlier investments in network infrastructure and customer acquisition.

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