Page 18 - Tanzania-Enabling-Mobile-Money-Policies
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enaBLinG moBiLe moneY PoLiCieS in tanZania
KYC limits, remain on the industry agenda for discussion with the regulator, particularly with regards to agent viability and in light of
increases in volumes driven by payments to and from businesses. Bot guidelines around the use of the interest accrued to trust accounts
are expected and will generate ongoing discussion on this topic with industry.
new partnerships and products are leveraging mobile money to increase access to financial services and to meet other basic needs.
the simplest example is mobile money providers connecting with banks to allow customers to access their bank accounts via a mobile
money wallet. Similarly, village savings and loan associations and mFis are piloting the use of mobile phones to connect savings groups
with banks through mobile money and to perform loan disbursements. ezy Pesa has expanded into the realm of insurance as part of its
27
new branding, partnering with the national insurance Corporation of tanzania Ltd. to offer Farijika health insurance.
mobile money is being used in a variety of ways to meet more basic needs as well. a recent CGaP landscape study showcases a few
examples: farmers are receiving payments and other information services through the Connected Farmer alliance; mobisol uses mobile
28
payments to help finance home solar power systems; angaza energy hub accepts payments and controls its solar power systems
through mobile money; and off-Grid electric uses m-Pesa for remote monitoring and to accept payments.
these are just a few examples of developments in this fast-moving area, where the industry continues to push new initiatives forward.
With the draft mobile Payments regulations nearly adopted, and with clear policy goals and constructive dialogue established between
the industry and the regulator, the future for mobile payments in tanzania is bright.
“We are all still very new to the mobile money business. The various roll players are working to determine their respective position
in the mobile money delivery value chain. As the business models and partnerships take shape it is imperative that the regulatory
climate be taken into account and that the business models are forged with the regulator in hand to ensure sustainable commercial
and operational delivery going forward. The success of a long term mobile money service in the country is wholly dependent on
a viable commercial model and a regulatory environment that creates certainty for the participants and customers of the mobile
money service. This is how the mobile money journey has played out in Tanzania, where service providers have worked with the BoT
to ensure maximum benefit is delivered to the public and financial access boundaries are pushed back to allow for a more inclusive
financial environment.”
Jacques Voogt
Chief Officer, M–Commerce, Vodacom Tanzania
27. Courtney Snelling, microcapital Brief, 22 February 2012,
http://www.microcapital.org/microcapital-brief-zantel-tanzania-rebrands-mobile-cash-service-z-pesa-as-ezy-pesa-adds-salary-access-option-microinsurance-linkage-to-crdb-bank-accounts/
28. Camilo tellez-merchan and Kabir Kumar, “Global Landscape of digital Finance Plus”, CGaP blog, 13 december 2013 http://www.cgap.org/blog/global-landscape-digital-finance-plus
12
KYC limits, remain on the industry agenda for discussion with the regulator, particularly with regards to agent viability and in light of
increases in volumes driven by payments to and from businesses. Bot guidelines around the use of the interest accrued to trust accounts
are expected and will generate ongoing discussion on this topic with industry.
new partnerships and products are leveraging mobile money to increase access to financial services and to meet other basic needs.
the simplest example is mobile money providers connecting with banks to allow customers to access their bank accounts via a mobile
money wallet. Similarly, village savings and loan associations and mFis are piloting the use of mobile phones to connect savings groups
with banks through mobile money and to perform loan disbursements. ezy Pesa has expanded into the realm of insurance as part of its
27
new branding, partnering with the national insurance Corporation of tanzania Ltd. to offer Farijika health insurance.
mobile money is being used in a variety of ways to meet more basic needs as well. a recent CGaP landscape study showcases a few
examples: farmers are receiving payments and other information services through the Connected Farmer alliance; mobisol uses mobile
28
payments to help finance home solar power systems; angaza energy hub accepts payments and controls its solar power systems
through mobile money; and off-Grid electric uses m-Pesa for remote monitoring and to accept payments.
these are just a few examples of developments in this fast-moving area, where the industry continues to push new initiatives forward.
With the draft mobile Payments regulations nearly adopted, and with clear policy goals and constructive dialogue established between
the industry and the regulator, the future for mobile payments in tanzania is bright.
“We are all still very new to the mobile money business. The various roll players are working to determine their respective position
in the mobile money delivery value chain. As the business models and partnerships take shape it is imperative that the regulatory
climate be taken into account and that the business models are forged with the regulator in hand to ensure sustainable commercial
and operational delivery going forward. The success of a long term mobile money service in the country is wholly dependent on
a viable commercial model and a regulatory environment that creates certainty for the participants and customers of the mobile
money service. This is how the mobile money journey has played out in Tanzania, where service providers have worked with the BoT
to ensure maximum benefit is delivered to the public and financial access boundaries are pushed back to allow for a more inclusive
financial environment.”
Jacques Voogt
Chief Officer, M–Commerce, Vodacom Tanzania
27. Courtney Snelling, microcapital Brief, 22 February 2012,
http://www.microcapital.org/microcapital-brief-zantel-tanzania-rebrands-mobile-cash-service-z-pesa-as-ezy-pesa-adds-salary-access-option-microinsurance-linkage-to-crdb-bank-accounts/
28. Camilo tellez-merchan and Kabir Kumar, “Global Landscape of digital Finance Plus”, CGaP blog, 13 december 2013 http://www.cgap.org/blog/global-landscape-digital-finance-plus
12
