Ivory Coast: interoperability of mobile money services announced for this year
March 6th 2020
The government of Côte d’Ivoire announces the interoperability of digital financial services in 2020. The project, which is in line with the regional strategy for financial inclusion, led by the Central Bank of the African States Ouest (BCEAO), aims to increase the number of Ivorians who access financial services.
The interoperability of digital financial services, including mobile money and mobile banking, will allow any customer to send money to any other financial service. Thus, consumers will no longer be limited to carrying out only financial transactions to recipients affiliated with the same service provider as them.
For the government, this restriction lifted, the volume of financial transactions carried out by the populations should increase further in the country and encourage the adoption of digital financial services.
Apart from interoperability, the government, to achieve its objective of financial inclusion of populations (currently, 44% of the adult population still does not access digital financial services), has also provided for the “digitization of financial flows with the effective operationalization of existing platforms and the digitization of 80% of government financial flows ”.
It is also planned to open up unstructured additional service data (USSD code), long monopolized by mobile operators, to other players in the financial sector in order to reduce the costs of services linked to it.
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