Mobile money: Firm targets 200,000 agents for Nigeria

A Nigerian firm established to support the growth of mobile money subsector of the financial industry, Alford Conferences Limited, has designed an initiative that will increase mobile money agents in the country to about 20, 000 in the next five years.

Already, the firm has partnered with Cobweb Solutions Limited, a leading web media company, to create Nigeria’s first online directory for mobile money agents, to help it achieve the 200, 000 mobile money agents targets for the country.

Since the official rollout of mobile money in Nigeria in November 2011 by the Central Bank of Nigeria, poor agent network has been the bane of Nigerian mobile money sector. According to statistics, Nigeria with a population of about 167 million currently has less than 5,000 mobile money agents nationwide. This number, however, falls short of what is required to make felt impact on the millions of Nigerians, who have never operated a traditional bank account.

Tagged: ‘Nairawise, the online directory is aimed at supporting the company’s five-year plan to help rapidly increase the number of mobile money agents in Nigeria to 200,000 between 2014 and 2019.

The pilot phase of the five-year program is expected to kick off in the Federal Capital Territory, FCT, in March 2014 when Alford Conferences Limited is holding its maiden, the organiser of the forthcoming Mobile Money Women’s Conference slated for March 10-12, 2014 in Abuja.

In the partnership, Cobweb Solutions will design, build and operate the web portal that will drive the rapid expansion of the network of mobile money agents in Nigeria.

Such agents are expected to subscribe to nairawise and upload their basic contact information and operational guidelines on the site. The portal will also allow existing and prospective mobile money customers can easily and quickly identify an agent to do money transactions with, irrespective of where they are located in any of the 774 Local Government Areas of the country.

Speaking during the signing of Memorandum of Understanding on nairawise in Abuja recently, Managing Director, Cobweb Solutions Limited, Mr. Babatunde Anwo- Ade, said working with Alford Conferences, his company sought to achieve a greater impact in the area of populating mobile money agents and making them visible in Nigerians.

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