Mobile money transactions reach P1bn

Orange Money was launched the same year Mascom unveiled its MyZaka services
Orange Money was launched the same year Mascom unveiled its MyZaka services

Mobile money transactions have grown significantly since introduction in 2010, to reach nearly P1 billion by the end of 2013.

This development has boosted the levels of financial inclusion in Botswana.  According to figures contained in the Bank of Botswana (BoB) 2014 annual report, the number of mobile money transactions at the end of 2013 stood at 3 195 959 amounting to P917 million.  This was a significant jump from 4,915 transactions recorded in 2010, which were valued at P1.6 million.

 The BoB figures also show that the number of active mobile money accounts has also grown significantly from 2,806 in 2010 to 510,604 in 2013. Researchers have said the leap in financial inclusion in Botswana has been helped by the spread of mobile money services, such as MyZaka and Orange Money, which have provided the previously unbanked with flexible access; as providers have leveraged on high mobile density rates in the local market.

Editor's Comment
A step in the right direction

That is indeed a welcome development, especially looking at the fact that the manual way of doing things is slowly disappearing and competency in the use of computers and other digital gadgets has become a must.The simple way of looking at it is just an example that almost all companies have gone completely digital and school leavers will be better placed after leaving school, because they will already be familiar with the use of computers.The...

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