Can Mobile Money provide effective competition to banks in South Africa?

22 July 2015

Can mobile money provide effective competition to banks in South Africa? 

Lessons from international comparisons and attempted entry

Anyone who has recently spent time in Kenya, Zimbabwe or Tanzania could not help but notice the pervasive influence of mobile money on everyday life.  Mobile money has revolutionised the banking sector in these countries, lowering transaction costs, driving financial inclusion and providing consumers and small businesses with easy, cheap and safe ways to transact. Even a cursory comparison reveals that South Africa is lagging far behind in terms of both uptake and innovation. A number of attempts to launch similar solutions in South Africa have failed, although more recent efforts such as MTN’s mobile money offering appear to be more successful. Is South Africa’s divergent experience a result of its sophisticated banking system and different customer demographics? Or is a highly restrictive regulatory environment to blame? This public platform will unpack the reasons for the slow uptake of mobile money in South Africa through reflecting on the findings of CCRED’s comparative research and the experience of a South African mobile money start-up. 

The panel includes; Genna Robb (CCRED), Dominique Collett (Rand Merchant Insurance Holdings), Michel Hanouch (CGAP, World Bank) and chaired by Trudi Makhaya (Makhaya Advisory).

VENUE: Melrose Place, 12A North Street (between Victoria and Arran Ave), Melrose, Johannesburg (click here for directions)

DATE: 22 July 2015

TIME: 16:00-18:00

RSVP by email to