Following a delayed launch of Senegal MVNO Promobile, its owners revealed a plan to move into the country’s mobile money sector, Ecofin Agency reported.
Branded Procash, when commercially available it will compete with a host of platforms offered by operators and other financial services providers.
Rivals include Orange Money, Free Money and E-Money run by operator Expresso. The news agency noted Sirius Telecom-owned Promobile planned to offer cash transfer and e-payment services on its platform.
Promobile had been due to begin commercial operations as an MVNO in early 2019, having won a licence from regulators in 2017 alongside two other companies. However, its initial launch was delayed by issues related to its host network changing hands from Millicom to Iliad associate Free in 2018.
Senegal is seen as a strong potential market for mobile financial services with international money transfer company WorldRemit last month inking a deal to transfer money directly into mobile wallets offered by Wizall Money.
Quoting WorldBank figures, WorldRemit estimated 60 per cent of adults in the country are unbanked, with international remittance supplying 10 per cent of Senegal’s GDP.Subscribe to our daily newsletter Back