GSMA: “Mobile credit and savings services gaining traction”

By July 19, 2014Press & Publicity

Following on from the fantastic Mastercard Foundation Symposium last week, the GSMA MMU blog showcased a few leading examples of different mobile credit and savings services operating around the world.

You can read the full blog post here, or see what was written about Musoni Services below:

Musoni, launched in 2013 (Musoni Services was spun off from Musoni MFI which was started in 2010), have built an independent business that provides their technology platform and mobile applications to ten microfinance institutions (MFIs) in Africa. The Musoni system has already been integrated with M-PESA (in Kenya and Tanzania), Airtel (Kenya) and Payway (Uganda) and four of Musoni’s MFI partners now accept mobile repayments (the remaining five are in the process of training their clients or setting up the partnerships with the MNOs). Importantly all ten MFIs use mobile technology to provide loans, creating efficiencies and helping build scale. At the end of 2013, Musoni reached a major milestone – processing a total of one million M-PESA transactions.

We look forward to working with the GSMA on both their new deployment tracker (where will promote our MFI partners using mobile money in their operations), and by participating in the 2014 Global Adoption Survey for Mobile Financial Services.