The mobile money wave is flowing fast across Africa and many factors point to the fact that Nigeria is the next big market. A 2010 study carried out by EFinA shows that 67.2% of the adult population in Nigeria have been excluded from financial services for varying reasons. Monthly subscriber data obtained from Nigerian Communications Communication (NCC) for the month of April 2012 shows that 94,531,980 GSM lines are active out of a total 119,460,789. Those figures do show that the opportunities abound in that spacefor a discerning investor to seize the moment.
The spotlight today is on ParkWay Projects, a leading software development & systems integration company specializing in electronic banking & electronic payment products and solutions. ReadyCash- their recently launched mobile money solution is fully adapted to the peculiarities of electronic business in Africa.
They have developed their mobile money platform to work with platforms that have gained mass appeal in Nigeria and the rest of the world: blackberry, Android and Java platforms.