The mobile payment companies Mobile Money and Airtel Money, “vectors of financial inclusion in Congo”
April 11th 2024
(MTN Congo) – The two mobile payment giants in Congo, namely Mobile Money Congo SA (MMC SA) and Mobile Commerce Congo SA (MCC), better known under the name of Mobile Money and Airtel Money, have this Thursday, March 28, 2024 in Brazzaville at the signing of an agreement aimed at uniting the two entities within the professional association of payment institutions, under the supervision of the Director General of national financial institutions, Jean Pierre Nonault.
Through this agreement, MMC SA and MCC SA comply with a national regulatory obligation which requires subject establishments to come together in an association to better defend their interests, within the professional association of payment establishments under the acronym APEP. This Association aims, among other things, to guarantee the speed of financial transactions in a secure technical and legal environment, as well as to promote the proper functioning and modernization of payment systems.
The main representatives of the two companies, Jean Bosco Nkousi of Mobile Money Congo SA and Lenine Mbiyé of Mobile Commerce Congo SA, welcomed the contribution and contribution of their respective structures to the economic development of the country, as well as the innovative opportunities presented by this collaboration.
“ In any sector of activity, we generally encounter opportunities and threats… we obviously need to come together to face any type of threat together… and pool our energies to be able to seize all opportunities ,” declared Lenine Mbiyé, Managing Director of Mobile Commerce Congo.
The boss of Mobile Money Congo SA was optimistic about the contribution of mobile payment services to the country’s economic growth. “ Our greatest contribution to the national economy is manifested through our approximately 3,500,000 active accounts each month between our two structures, thus representing the largest share of financialization in our country ,” welcomed Jean in turn. Bosco Nkousi, Managing Director of Mobile Money Congo SA
For the Ministry of Economy and Finance, through the general directorate of national financial institutions which oversees this association (APEP) now linking the two giants of electronic funds transfer, it was time, given the diversification of the economy, to count on this sector to improve Congo’s financial inclusion by laying the foundations for regulation in the area.
“We need to understand the cost structure, how much it costs Mobile Money and Airtel Money, or the payment institution sector… How should we work together so that the Congolese benefit from the new services at a lower cost? cost, this is the objective of financial inclusion,” underlined the Director General of financial institutions, Jean Pierre Nonault.
The two entities also reassured consumers about the competition between them, declaring not to lose sight of performance and innovation in the services offered.
Source: Agency EcoFin
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