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Mobile Money in Côte d’ivoire: A turnAround story 2
Background
At first glance, the opportunity for mobile money in Côte d’ivoire seems huge. With a population
of 19.8m and the highest GdP per capita in the region, it has one of the most dynamic economies
in West Africa. in addition, with only 10.7% of adults in Côte d’ivoire having access to a formal
4
financial institution, mobile money seems an obvious conduit to increase financial inclusion.
5
early on, the Central bank of West African states (bCeAo) realised that mobile money had the
potential to significantly increase financial inclusion. in 2006, the bCeAo issued regulation on
electronic money that qualified non-banks for an e-money issuer license. under this regulation,
an e-money issuer can be a bank (in partnership with an Mno) or a non-bank institution that
has been granted a specific licence by the central bank.
Table 1
Mobile Money services in c ôte d’ivoire
Mobile Money service service provider date of launch
orange in partnership with biCiCi
orange Money december 2008
(bnP Paribas)
Mtn in partnership with sGbCi
Mtn Mobile Money october 2009
(société Générale)
CelPaid CelPaid February 2011
Flooz Moov in partnership with biAo January 2013
Mobile banking Qash services november 2013
4. Worldbank
5. iFC. http://www.ifc.org/wps/wcm/connect/2de255804ef863c8ac1bef3eac88a2f8/MobileMoneyscoping_Ci_enG.pdf?Mod=AJPeres
Background
At first glance, the opportunity for mobile money in Côte d’ivoire seems huge. With a population
of 19.8m and the highest GdP per capita in the region, it has one of the most dynamic economies
in West Africa. in addition, with only 10.7% of adults in Côte d’ivoire having access to a formal
4
financial institution, mobile money seems an obvious conduit to increase financial inclusion.
5
early on, the Central bank of West African states (bCeAo) realised that mobile money had the
potential to significantly increase financial inclusion. in 2006, the bCeAo issued regulation on
electronic money that qualified non-banks for an e-money issuer license. under this regulation,
an e-money issuer can be a bank (in partnership with an Mno) or a non-bank institution that
has been granted a specific licence by the central bank.
Table 1
Mobile Money services in c ôte d’ivoire
Mobile Money service service provider date of launch
orange in partnership with biCiCi
orange Money december 2008
(bnP Paribas)
Mtn in partnership with sGbCi
Mtn Mobile Money october 2009
(société Générale)
CelPaid CelPaid February 2011
Flooz Moov in partnership with biAo January 2013
Mobile banking Qash services november 2013
4. Worldbank
5. iFC. http://www.ifc.org/wps/wcm/connect/2de255804ef863c8ac1bef3eac88a2f8/MobileMoneyscoping_Ci_enG.pdf?Mod=AJPeres
