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23 Feb 2009 11:26
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23Β February 2009
MONITISEΒ AND E-FULUSIΒ AFRICAΒ PARTNER TO DELIVERΒ INCLUSIVEΒ BANKING SERVICESΒ ACROSSΒ EAST AFRICA
MonitiseΒ plc (MONI.L)Β today announced that it hasΒ entered a partnershipΒ withΒ E-FulusiΒ Africa, the Tanzanian mobile wallet provider. TheΒ two companiesΒ willΒ work together toΒ provide aΒ fully integratedΒ serviceΒ thatΒ willΒ helpΒ bringΒ banking services to theΒ millions of people acrossΒ East AfricaΒ that are currently unbanked.Β
Monitise,Β which has recently been awarded US$1.5 million of funding by the Africa Enterprise Challenge FundΒ (AECF)Β to deliver its service inΒ East Africa,Β enablesΒ the provision of banking, payment and money transfer services by both banks and mobile networks, within the regulatory framework of each marketΒ it operatesΒ in. It willΒ offerΒ the opportunity forΒ citizens inΒ East AfricaΒ to use their mobile phones toΒ save money, make payments, transfer funds, and deposit and withdraw cash through the widest choice of mobile networks, banks and mobile handsets.
E-Fulusi Africa's expertise and experience in establishing the regulatory framework for mobile banking alongside the Central Bank ofΒ TanzaniaΒ and firm understanding in implementing practical policy for developing markets,Β will be an invaluable asset in deploying services throughoutΒ East Africa. ItsΒ technology, which currently powers theΒ MOBIPAWA andΒ ZPESA services,Β the first two mobile banking services inΒ Tanzania,Β offers a specialist mobile wallet designed to meet the needs of the unbanked. Integrated withΒ Monitise's award winningΒ mobile moneyΒ manager,Β it willΒ createΒ aΒ serviceΒ thatΒ givesΒ citizensΒ acrossΒ East AfricaΒ the opportunity to have anΒ account, which they can controlΒ and make payments fromΒ using their mobile phone.
MonitiseΒ East Africa will initially offer services inΒ Uganda, where it will have its headquarters inΒ Kampala.Β In due course the service will expand into neighbouring countries, includingΒ Burundi, Democratic Republic of Congo,Β Ethiopia,Β Kenya,Β Rwanda,Β TanzaniaΒ andΒ Zambia.Β
NadeemΒ Juma,Β managing director ofΒ E-FulusiΒ AfricaΒ said:Β "By working with Monitise, we have an opportunity toΒ helpΒ transform the lives of millions of people acrossΒ East Africa. Together we will deliver a highly inclusive service that works across theΒ widest range of networks, banks and phones. Monitise's experience in delivering this across theΒ UKΒ andΒ North AmericaΒ combined withΒ our expertiseΒ means thatΒ the serviceΒ has the potential to bringΒ aΒ savings and banking culture to millions of people across the region."
Alastair Lukies, chief executive,Β MonitiseΒ plc added:Β "By partnering withΒ E-FulusiΒ AfricaΒ which has already improved the lives of people inΒ Tanzania, we haveΒ created aΒ serviceΒ with the needs of African people at itsΒ heart.Β Our strategyΒ has always been toΒ work withΒ keyΒ partners in each region that we operate. By bringing our service together withΒ E-FulusiΒ Africa's,Β IΒ firmlyΒ believeΒ thatΒ we have anΒ opportunity toΒ deliverΒ aΒ serviceΒ that can help trigger considerable economic growth across the region."
-ends-Β
Enquiries
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Contacts: |
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Monitise Group |
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Ben Evetts, Head of Communications |
Tel: 020 7868 5200 |
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Lee Cameron, Director |
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Financial Dynamics |
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Juliet Clarke |
Tel: 020 7831 3113 |
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Haya Chelhot |
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Erwan Gouraud |
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About E-FulusiΒ AfricaΒ E-Fulusi Africa (T) Limited is a technology company, whose main objective is to bridge the gap in payment processes acrossΒ Africa.Β E-Fulusi'sΒ main goal is to facilitate the provision of financial services to a majority of the population, often located in rural areas representing banked, un-banked and under-banked communities.Β
www.efulusi.co.tz
About Monitise plc
Monitise plc (MONI.L), the mobile money people, has created the world's first mobile banking networks, which allow customers of multiple banks and mobile operators to perform banking and payment transactions directly from their mobile handset.
With live services in theΒ UKΒ and theΒ USA, where it has delivered the MONILINK and Monitise networks in partnership with VocaLink and Metavante Corporation respectively, the Company is currently working with international partners to deliver similar safe, secure mobile banking & payment services in territories worldwide.
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Current key partners include VocaLink, Metavante, HSBC, Lloyds TSB, first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Vodafone, Orange, O2, T-Mobile and Hutchison 3G.
www.monitisegroup.comΒ
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