Dar es Salaam, Tanzania, March 1, 2017
— IFC, a member of the World Bank Group, is launching a consumer education
campaign to raise awareness about interoperable mobile money services that
help to promote financial inclusion in Tanzania.
In September 2014, Tanzania’s four major
mobile phone operators—Vodacom, Tigo, Airtel and Zantel—reached an interoperability
agreement to allow their customers to interact with each other. Through
the interoperability agreement customers can make payments from the mobile
money account of one provider to the mobile money account of another provider.
This makes Tanzania one of the first countries in the world with an industry-agreed
interoperable market for mobile financial services.
IFC, with the support of the Bank of Tanzania,
the Bill & Melinda Gates Foundation, and the Financial Sector Deepening
Trust, facilitated the industry-led discussions that have led to agreement
between the four operators, and continues to work with key actors in the
market in Tanzania to deepen and strengthen financial inclusion.
An IFC report, “Achieving Interoperability
in Mobile Financial Services: Tanzania Case Study,” identified limited
awareness of interoperability, coupled with competitive pressures and lack
of trust among operators as key barriers to growth in the sector.
“Mobile payments services have had a tremendous
impact in promoting financial inclusion in many countries of the world,
including Tanzania and its neighboring countries,” said Riadh Naouar,
Head of Advisory Services, IFC Financial Industries Group. “IFC is invested
in the continued development of this regional innovation and is providing
investments and technical support to banks, mobile network operators, microfinance
institutions and other payment services providers.”
The marketing campaign, which aims to reach
one million individuals, is to be launched at Biafra Grounds. It will be
rolled out over six months from March to September 2017. IFC has appointed
Fern Tanzania Ltd, a Tanzanian marketing firm to lead the campaign, in
collaboration with the mobile phone operators.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with 2,000 businesses worldwide, we use our six decades of experience to
create opportunity where it’s needed most. In FY16, our long-term investments
in developing countries rose to nearly $19 billion, leveraging our capital,
expertise and influence to help the private sector end extreme poverty
and boost shared prosperity. For more information, visit www.ifc.org.