logoBC
Yaoundé - 10 December 2019 -
Economy

Cameroon launches mobile money services' aggregation platform to boost financial inclusion

Cameroon launches mobile money services' aggregation platform to boost financial inclusion
  • Comments   -   Wednesday, 27 November 2019 12:09

(Business in Cameroon) - Minette Libom Li Likeng (photo), the Cameroonian Minister of Posts and Telecommunications signed on 26 November, a decree setting the conditions and operating rules of the Unstructured Supplementary Service Data (USSD) for access to the national electronic communications’ aggregation platform in Cameroon.

This platform is aimed at notably ensuring fair interconnection conditions, reducing the costs of mobile financial transactions and promoting financial inclusion. It will also give access to mobile financial services via a unique shortcode (#237#).

Philemon Zo'o Zame, Director of the Telecommunications Regulatory Agency (ART), explains that “the said platform is housed at Campost [Cameroon's state-owned postal operator], which manages it, and is responsible for the implementation of the above-mentioned decree."

Therefore, Mr. Zo'o Zame invites network operators and electronic communications services providers to interconnect to it, within 30 days (by 26 December 2019) for the provision of mobile financial services.

Since July 2017, the Cameroonian government has been working on the creation of a single USSD code for Mobile Money services. Indeed, like telephone calls and other SMS, telephone operators operating in Cameroon use different codes. For instance, with Orange and MTN, #150# and *126# are the respective codes to access mobile money services. From now on, these operators will have to submit, for validation, the tariffs for access to the single USSD code.

It could bring more transparency to the mobile financial services market. Let’s note that microfinance company Express Union Finances, has regularly referred cases to the Ministry of Posts and telecommunications accusing MTN and Orange Cameroon of “anti-competitive practices.” According to the microfinance company, these practices are either through an increase of the prices for the use of the shortcode * 050# (which allows Express Union Finances’ clients make transactions on their accounts with their mobile phones), or outright removal of Express Union Finances' access to this USSD code.  

These accusations were outrightly rejected by the two mobile operators who claim that they are not in partnership with Express Union on the disputed USSD code.

Sylvain Andzongo

cameroon-companies-lost-xaf800-bln-to-socio-political-crisis-within-3-years-gicam
The Inter-Patronal Grouping of Cameroon (GICAM) recently updated its data on the socio-political crisis raging the North-West and South-West since October...
cameroon-gathers-partners-around-torn-anglophone-region-s-reconstruction-plan
Cameroon's Prime Minister, Joseph Dion Ngute, announced on his twitter account that he recently brought together “about fifteen” representatives of...
cameroon-feicom-redistributed-xaf88-8-bln-to-municipalities-in-2018
In Cameroon, the Special Fund for Equipment and Inter-municipal Assistance (FEICOM) collected revenues amounting to XAF158.3 billion in 2018, a little...
cameroon-generates-an-average-of-xaf140-bln-year-from-the-distribution-of-oil-products
Every year, Cameroon generates an average of XAF140 billion from the distribution of oil products. This was revealed by the minister of water and energy...

Mags frontpage


Business in Cameroon n81: November 2019

The growing weight of Moroccan banks in Cameroon


Made in Cameroon products gradually take over supermarkets


Investir au Cameroun n91: Novembre 2019

Le poids croissant des banques marocaines au Cameroun


Le Made in Cameroon progresse dans les supermarchés