Botswana: Mascom, Telepin partner on mobile financial services
The partnership will increase the availability of mobile money services to the citizens.Two leading firms, Mascom and Telepin have partnered on providing mobile financial services to Botswana informal financial sector with 97 per cent of businesses transactions recorded through cash exchange. With the high mobile penetration in Botswana which stands at 176 per cent being the highest in the world, the partnership between the two firms will unfold opportunities in digital payment by increasing the availability of mobile money services to the citizens. The press release from Telepin stated that, "Mascom's partnership with Telepin accelerates and increases the availability of mobile money services for the country's citizens, while positioning banks, payment services providers, and online service providers to participate and succeed in an expanding mobile money ecosystem." Telepin has already been working with Mascom in their mobile money transfer product- MyZaka which provides Batswana the option
of making payments for utility bills, purchase goods and airtime, transfer and receive money using their mobile phones. The development largely compliments the effort of commercial banks that have been spreading digital financial services in Botswana through mobile banking.