South Sudan Ready For Global eCommerce As Government Authorises Mobile Money Services
For the first time, citizens of South Sudan can now access legitimate mobile money services after years of depending on the sector’s black market. Recently, the country’s telecommunications sector saw the launch of M-gurush, a collaboration between Trinity Technologies and Zain joining other regional states such as Kenya and Tanzania. The latest to join the sector is NilePay mobile money, a partnership between Nile pay PLC and Zain South Sudan.
Banking penetration in the country has been negligible seeing years of neither central infrastructure nor regulation in the sector, a trend that has made South Sudan a perfect haven for money laundering not benefiting locals but providing a network for drug lords and warlords. The youngest country in the continent has overtime worked towards embracing financial technology, and even with low mobile penetration, it is a start towards financial inclusion.
The move comes as multinational companies continue to invest heavily in the region’s Financial Technology (FinTech) as startups in the sector continue to increase.
Most people in South Sudan’s capital have been relying on unlicensed mobile operators to transfer money through platforms created by MTN Uganda and Kenya’s M-PESA. This has created significant barriers that have hindered consumers in the country from taking full advantage of global eCommerce.
Licensing of the services by the Central Bank of South Sudan and the National Communication Authority will not only be a gateway to financial inclusion but will also provide job opportunities for South Sudan’s citizens.
m-GURUSH Mobile Money agents are business entities authorized by Trinity Technologies Ltd to receive and pay out money withdrawn to customers on behalf of M-gurush mobile money.
Trinity technology Limited (TTL) is a South Sudan telecommunication company specializing in the design and development of Innovative Financial Services, Online Transactions, and Mobile Payment systems.
NilePay Mobile Money, named after the famous River Nile that straddles the Republic of South Sudan intends to offer the active 2 million, mobile users, a versatile and secure mobile payment solution, that is easy to scale and provides a seamless customer experience.
“We are excıted to have partnered with NilePay PLC to brıng the mobile wallet services to the South Sudan market, which makes it more convenient and secure for users to withdraw and deposit money to their accounts while participating in the digital economy,” says Eng. Magdi Taha, CEO, Zain South Sudan
According to both M-Gurush and Nile Pay entrance into the market plays an important role in the E-Money services industry by adding value to the financial services ecosystem of the country, transforming South Sudan into a modern cashless society.