M-PESA is easily the best-known mobile money success story of recent times. The multibillion-dollar narrative put Kenya on the world map for the umpteenth time and minted Safaricom as East Africa’s most valuable company.
However, Kenya is not the only nation with bragging rights to Africa’s “lucrative mobile money markets”. The second well-deserved honor goes to Ghana, where MTN’s MoMo has seen hefty intake since its launch in 2009. The platform’s success has crowned Ghana as the most mature mobile money market outside Eastern Africa.
