This article is based on the Mobile Money Growth and need in most of the banked and un-banked African countries.

1. 1 Contact @ Skilrock Technologies | Sourabh Goyal - sourabh.goyal@skilrock.com | +91 8287467878, +91 1244219411
MOBILE MONEY
“BRIGHT SIDE OF AFRICAN ECONOMY”
Online revolution is the antithesis of society’s public dealing challenges. Earlier, we had to wait in long
queues for the most mundane tasks be it money transfer, any bill payments, Mobile top ups, ticket
bookings and many others.
The new era of online revolution has provided lots of facility in your hand and with most of the things just
a click away. Now, you can perform most of above mentioned mundane tasks just by using a mobile
device.
According to forecasts by Informa Telecoms & Media (IT&M), the numbers of mobile subscriptions in the
African continent are going to cross 1 billion by end of 2015. IT&M report states that Africa has the
highest rate of growth in mobile subscriptions amongst major world regions and is forecasted to increase
by 17.5% year-on-year. This growth rate is higher than world average of 10.75% for the same period.
According to data from the GSM Association, some 130 mobile money deployments had been
implemented by end of March 2012, spanning all developing regions. Interestingly; Africa is leading the
trend with 60 such systems and within Africa, the East African Community (EAC) is at the Forefront.
Nigeria, which surpassed the 100 million mobile subscriptions milestone during Q2 2012, will continue to
be Africa’s biggest mobile market and is projected to have 168.99 million subscriptions at the end of 2017.
It is followed by Egypt, which is estimated to sport 129.4 million subscriptions by the same timeframe.
The lack of access to formal banking in the
mass market in Africa has opened door for
mobile operators to build successful mobile
payment services. The gap between banking
penetration and mobile penetration means
that while many people do not have access to
financial services, they do have a mobile
phone. Capitalizing on the phenomenal growth
of mobile telecommunications in Africa, a
number of service providers are already active
in deploying mobile banking services to tap the
demand from largely unbanked population.

2. 2 Contact @ Skilrock Technologies | Sourabh Goyal - sourabh.goyal@skilrock.com | +91 8287467878, +91 1244219411
AFRICA- A GROWING MARKET FOR TELECOMMUNICATIONS
Africa offers big opportunities to businesses, especially in telecommunication. If you just look at Nigeria, it
has a population close to 200 million. Belgium’s population is just a fraction of that, yet it has 5 to 6 mobile
operators. If you dare to explore new markets in Africa and have the patience to understand the African
business mentality, it’s one of the most exciting parts of the world to do business.
CHALLENGES WHILE ESTABLISHING BUSINESS IN AFRICA
Doing business in Africa requires long term investment but it’s a fact that once you able to established
business relationship and acquired customers they are loyal towards you. African customers like personal
relationship unlike the developed markets which are more attuned otherwise. The regulatory
environment is another challenge in Africa.
In Europe, where there is blanket licensing from the European Commission to make life easy for European
industries. Fortunately, many countries in Africa are trying to implement rules following the European
model. Inspite of this, for every third of African countries, regulation is still a grey area. For example:
Certain jurisdictions still don’t like the financial information traveling outside the country. Now if you don’t
know about this challenge and move towards advance stage in your project it can block your access to the
commercial market.

3. 3 Contact @ Skilrock Technologies | Sourabh Goyal - sourabh.goyal@skilrock.com | +91 8287467878, +91 1244219411
Is MOBILE MONEY dominating the payment system in Africa?
There is an overall need for banking sector in Africa to reach a large unbanked population. During past 2-3
years, there has been a dramatic upward trend in Mobile Money Subscription base, but market
penetration is still low. I have observed, money transfer company are still spreading like bush fire as we
meet people in hoards during various events and seminars who are still planning to enter in this business.
Currently, mobile money is receiving a big chunk of media coverage in Africa and internationally. New
mobile money services are getting launched in the market almost every month. It is touted to be Africa’s
major form of financial transaction and is positioned as part and parcel of the African life. Even with the
current boom on Mobile Money Subscriptions in Africa, there is still vast room for expansion as the market
is barely covered and markets such as Kenya, Nigeria, Tanzania, Ghana, Uganda and Tunisia look extremely
promising.
PAYKONNECT
“Serve Mobile Money to Africa’s banked and the unbanked”
PAYKONNECT is designed to allow end users conduct financial transactions anywhere, anytime. The
service is aimed at bridging the gap between the banked and the unbanked. PAYKONNECT platform
provides services which are secure, convenient, cost effective and available for everyone. The Platform is
already integrated with hundreds of third party product offering;
Mobile Top up &
Bill Payment
Mobile Money
Mobile / Agent
Banking
Micro Insurance
Micro Finance
Mobile
Lottery/Betting
Prepaid Electricity
Mobile Ticketing
Payment/Transacti
on Switch
Electronic Wallet
(eWallet)
Mobile Wallet
(mWallet)

4. 4 Contact @ Skilrock Technologies | Sourabh Goyal - sourabh.goyal@skilrock.com | +91 8287467878, +91 1244219411
OUR CREDIENTIAL
Solutions available on;
• Computer • POS terminal • Mobile Phone – GPRS active Java enabled / Android phone • Mobile
Phone – SMS based
KEY BENEFITS
• New revenue streams for retailers from complimentary services
• Ease of retail chain management
• Best suited to businesses looking to offer a range of Online services
• Real time control on inventory
• Reduced logistics
Don't hesitate to ask me when you have any questions, thanks.
Sourabh Goyal
Marketing Manager
Skilrock Technologies
Paykonnect Solution is a scalable platform
that has been tested extensively in India. It
is operational in India and runs services
under the name “PAYWORLD” (the largest
electronic distributor providing commercial
services through more than 60,000 retail
touch points doing almost 10 million sales
transactions in a month).
Paykonnect platform has already been
implemented internationally in KENYA,
NIGERIA, ZIMBABWE, Sri Lanka and UK
and looking to expand to newer
geographies of Africa, Latin America and
Asia.