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  • Finweek - English

    SPINNING AND CHURNING IN A SEA OF OPPORTUNITY – THE STATE OF MOBILE MONEY IN AFRICA TODAY

    Jan 10, 2020 5 minutes
    By Sean Christie and Leila Stein

    the last two quarters of 2019 saw galvanic activity in the mobile financial services on the African continent, particularly among the lenders. Google shook things up by banning a certain class of personal loan app from Play Store; California-based microlender Tala pulled out of Tanzania; JUMO, with offices in Cape Town and Nairobi, retrenched a number of employees, and MTN announced its intent to relaunch a mobile money platform before the end of 2019.

    SMMEs versus consumers

    “The mobile financial services space is very active at the moment, with a number of consumer and SME lenders emerging across the continent,” says Johan Bosini of venture firm Quona Capital, which has focused on supporting small, micro and medium (SMME) lending start-ups around the world, as well as a variety of other financial technology companies.

    With such a high prevalence of digital

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