Mobile Remittances to Africa: Mobile and Financial Services Converge

2017-03-03
Price :
Published : Mar-2017
No. of Pages : 28
Inquire before Buying request discount

Mobile Remittances to Africa: Mobile and Financial Services Converge

Summary

The number of mobile money users in Africa is still seeing significant growth, however, that is not all. Mobile money services are also evolving, with the next natural step arguably being mobile remittances. The sizeable traditional remittance market is just now beginning to near its “mobile moment”.

Mobile Remittances to Africa: Mobile and Financial Services Converge’ a new Telecom Insider Report by GlobalData, provides an overview of the mobile money and remittance market in sub-Saharan Africa. The report analyses the mobile remittance market and the role of market participants such as MNOs, money transfer operators (MTO), financial technology (fintech) firms and banks. The insider provides case studies, comparisons, conclusions as well as recommendations for operators.

Scope

– International mobile remittances are sent less frequently than domestic person-to-person (p2p) payments, but on average transfers are significantly higher in terms of value compared to domestic transfers.

– Mobile remittances account for roughly 0.03% of total global remittances. The total market size is in excess of US$601bn of which most is still remitted via traditional channels (banks or money transfer operators [MTO]) or informal channels (travelling friends or family members). There is therefore a significant opportunity for MNOs to capitalise on challenging the traditional channels and increase mobile remittances usage.

– Migration and remittance numbers are strongly correlated; and with European entry points, such as Italy, having in 2016 seen a record in migration numbers, remittance flows are likely to continue to increase. According to the World Bank, global remittances to sub-Saharan Africa will grow by 3.7% in both 2017 and 2018.

– Competition in traditional and mobile remittances has increased greatly with the entry of financial technology (fintech) firms that apply over-the-top (OTT) solutions to transfer money to mobile wallets. There is also significant co-operation between the different players in the mobile remittances industry as market structure is still at a defining stage. MNOs that lack a footprint in more developed countries are likely to partner with fintech firms in order to enable the receipt of remittances.

– MNOs could be particularly competitive when lower sums of money are being sent. This is partly because they already have existing subscriber base and retail networks, which allows them to undercut the fees of MTOs and banks.

Reasons to buy

– This Insider Report provides a comprehensive examination of mobile remittance business models in the sub-Saharan market to help executives fully understand market dynamics, determine what works and what doesn’t.

– Three case studies illustrate the findings of the report, providing insight into particular situations in the mobile remittance market; this will help the reader understand both the challenges confronted in the real world and the strategies employed to overcome those challenges.

– The report discusses concrete opportunities in the mobile remittance market, providing a number of actionable recommendations for service providers.

– The report discusses commercial and technical developments in the wider mobile money market and what these developments might mean for the future.

Companies Mentioned

Orange

MTN

Airtel

Safaricom

Vodacom

Vodafone

Equity Bank

Equitel

Tigo

Orange Bank

WorldRemit

Western Union

HomeSend

MoneyGram

MasterCard

eServGlobal

BICS

MFS Africa

Econet

PesaLink

Integrated Payments Service Ltd (IPSL)

Filed in: Uncategorized
Publisher : GlobalData
More Reports
Title Price Buy Now

Stem Cell Assays Market by Type (Viability, Proliferation, Differentiation, Apoptosis), Cell Type (Mesenchymal, iPSCs, HSCs, hESCs), Product & Service (Instrument), Application (Regenerative Medicine, Clinical Research), End User – Global Forecast to 2027

“The stem cell assays market growth can be attributed to factors such as the rising demand for technologically advanced stem cell analysis instruments, increase in the prevalence of cancer & other diseases and rising number of biopharma and & biotechnology companies working on stem cell based therapies.” The stem cell assays market is projected to reach USD 4.5 Billion by 2027 from USD 1.9 Billion in 2022, at a CAGR of 17.7% during the forecast period. The growth of the market is projected to be driven by collaborations and agreements among market players for stem cell assay products & services, launch of new stem cell analysis systems such as flow cytometers and increase in R&D expenditure by biopharmaceutical and biotechnology companies. The viability/cytotoxici......
 $

Thermoelectric Modules Market by Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application (Consumer Electronics, Automotive), Offering and Region – Global Forecast to 2027

“The thermoelectric modules market is projected to grow at a CAGR of 8.8% during 2022–2027” The thermoelectric modules market is expected to grow from USD 693 million in 2022 and is projected to reach USD 1,054 million by 2027; it is expected to grow at a CAGR of 8.8% during the forecast period. Advantages such as compact design of TEMs compared to vapor-compression cooling systems, drives the adoption of TEMs across several end-use application. Additionally, ability of TEMs to produce hot and cold water for different functions adds to its rising adoption in different applications. Furthermore, the rapidly growing market for electric and luxury vehicles is also expected to drive thermoelectric modules market. TEMs are used in electric vehicles to stabilize the temperature of a car......
 $4950

European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography – Global Forecast to 2027

European smart home market dynamics The European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. “Surging importance of home monitoring” Smart homes can perform intricate tasks such as automatically lighting up evacuation routes in the case of a fire alarm in addition to basic operations such as turning off lights, dimming lights, and shutting curtains. Connectivity has become a high-end novelty in a variety of household equipment, including security cameras and utility or smart meters, which record the consumption of electric energy and communicate information to the user and thermostats. In the coming years, connectivity is anticipated to become a more prevalent tren......
 $4950

Cybersecurity Insurance Market by Component (Solutions and Services), Type (Standalone & Packaged), Coverage (Data Breach & Cyber Liability), Organization Size, End User (Technology & Insurance) and Region – Global Forecast to 2027

“An increase in the number of security breaches and cyberattacks and stringent regulatory compliances is driving the growth of the global cybersecurity insurance market.” The global cybersecurity insurance market size in the post-COVID-19 scenario is projected to grow from USD 11.9 billion in 2022 to USD 29.2 billion by 2027, at a CAGR of 19.6% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. complex governance requirements and regulations in data security are expected to drive the adoption of the cybersecurity insurance market in the future. The awareness about security risks and potential losses due to threats has induced governments and organizations to increase the expenditure on cybersecurity. Enterprise......
 $4950

Network Monitoring Market by Offering (Equipment, Software & Services), Bandwidth (1&10 Gbps, 40 Gbps, 100 Gbps), Technology (Ethernet, Fiber Optic, InfiniBand), End User and Geography – Global Forecast to 2027

“The network monitoring market is projected to grow at a CAGR of 6.9% during 2022–2027” The network monitoring market is projected to grow from  USD 2.2 billion in 2022 and is projected to reach USD 3.0 billion by 2027; it is expected to grow at a CAGR of 6.9 % from 2022 to 2027. The rise in demand for cloud services, surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring due to rise in network complexities and security concerns is expected to fuel the growth of the network monitoring market. However, availability of free network monitoring tools is a prominent factor limiting the growth of the network monitoring market. “Network monitoring equipment with 1 & 10 Gbps bandwidth to hold large......
 $4950

Bone & Joint Health Supplements Market by Type (Vitamin D, Vitamin K, Calcium, Collagen, Omega 3-Fatty Acid, Glucosamine-Chondroitin), Distribution Channels, Form (Tablets, Capsules, Liquid, Powder), Target Consumers and Region – Global Forecast to 2027

The global bone & joint health supplements market is estimated to be valued at USD 11.7 billion in 2022. It is projected to reach USD17.6 billion by 2027, recording a CAGR of 8.5% during the forecast period. Rising incomes have prompted households to increase their budgets and spend more on health and nutrition in addition to necessities such as food. Nutrition bars, in addition to protein supplements, are gaining popularity, particularly in urban areas. According to experts, food/sport supplements are becoming more popular, particularly vegetarians, increasingly feel the need to meet their protein requirements in order to stay healthy. “North America is projected to witness the growth of 7.9% during the forecast period.” The bone & joint health supplements market in Nort......
 $4950

Nucleic Acid Isolation & Purification Market by Product (Kit, Reagent, Instrument), Method (Column, Magnetic Beads), Type (Genomic DNA, Plasmid DNA, miRNA), Application (Drug Discovery, Diagnostics), End User (Pharma, Biotech) – Global Forecast to 2027

The nucleic acid isolation and purification market is expected to grow at a CAGR of 7.9% in the forecast period. The global nucleic acid isolation and purification market is projected to reach USD 9.2 billion by 2027 from USD 6.3 billion in 2022, at a CAGR of 7.9% during the forecast period. The growth of this market can majorly be attributed to the increasing R&D activities as well as technological advancements and increasing automation. The emerging economies, improving regulatory and reimbursement scenario, and the growing adoption of molecular diagnostics and personalized medicines are expected to offer a wide range of growth opportunities for players in the market. However, the high cost of automated instruments is expected to hinder the growth of the market. As the world be......
 $4950

Industrial Communication Market by Offering (Component, Software and Services), Communication Protocol (Fieldbus, Industrial Ethernet and Wireless), Vertical (Automotive, Engineering/Fabrication) and Region – Global Forecast to 2027

“The industrial communication market is projected to grow at a CAGR of 7.4% during 2022–2027” The industrial communication market is expected to grow from USD 18.8 billion in 2022 and is projected to reach USD 26.8 billion by 2027; it is expected to grow at a CAGR of 7.4% during the forecast period. A factory system should be capable of offering faster response times, better efficiency, and greater reliability. To achieve these benefits, designers must select the best communication technology, navigate a multiprotocol environment, and cover a wide range of industrial equipment. Therefore, the need for scalable and interoperable protocols are driving industry initiatives to develop a newer set of communication products.The clients of the companies offering smart manufacturing produ......
 $4950

Water Blocking Tapes Market by Conductive Type (Conductive, Semi-conductive, Non-conductive), Application (Optical Fiber cable, Submarine cable, Power cable Communication cable) and Region (North America, Europe, APAC, RoW) – Global Forecast to 2027

“The water blocking tapes market is projected to register a CAGR of 5.5% during the forecast period.” The water blocking tapes market is estimated to be USD 378 million in 2022 and is projected to reach USD 495 million by 2027, at a CAGR of 5.5% between 2022 and 2027. The increasing demand for water blocking tapes in power and telecommunication projects is one of the most significant factors projected to drive the growth of the water blocking tapes market. However, the negative impact of the COVID-19 pandemic across all the end-users has affected the water blocking tapes market adversely. “Non-conductive water blocking tapes leads the market.” The water blocking tapes market is segmented into three different types, namely, conductive, semi-conductive, and non-conductive ta......
 $4950

IoT Solutions and Services Market by Component (Solutions and Services), Organization Size, Deployment Mode, Focus Area (Smart Manufacturing, Smart Energy and Utilities, and Smart Retail) and Region – Global Forecast to 2027

The IoT solutions and services market is projected to grow from USD 243.1 billion in 2022 to USD 575.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period. The IoT Solutions and Services market is expected to grow at a rapid pace due to the evolution of new technologies, and adoption and scaling of digital initiatives. The internet of things (IoT) is defined as an extension of the internet and other network connections to various sensors and devices or "things," allowing even simple objects such as lightbulbs, locks, and vents to have more processing and analytical capabilities. One of the important elements of the IoT that contributes to its growing popularity is interoperability. Connected or "smart" devices, often known as "things" in the IoT......
 $4950
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy