Mobile banking is taking off in Chad
Airtel launched Airtel Money and Tigo followed with Tigo Cash. Chad now has two main mobile banking operators.Airtel launched Airtel Money and Tigo followed with Tigo Cash. Chad now has two main mobile banking operators.
Airtel's partner is Ecobank, while Tigo is associated with Orabank. Access to banking via mobile phone services allows once more an increased usage of banking services in Africa.
In Chad comma as in many countries in the region, traditional bank transfers are rather unsafe and accessibility is limited. By contrast, mobile phone coverage is now very good, even in rural areas.
On top of traditional banking operations like transfers and bills payments, smartphones can be used as electronic wallets: pre-charged with virtual money, they can be used to shop or pay in a restaurant. Accessing a transfer at a participating agent is also easy: a simple code is the only requirement.
It is this last activity which still registers the most transactions.
Launched in mid-2012, the market is taking off slowly. Airtel counted 63,000 users and Tigo 50,000 at the beginning of March.
In Tanzania, Tigo counts 1.5 million clients two years after the launch of its mobile banking operations. One can wish a similar success in Chad, which would contribute to the population’s access to banking and economic development.