This archive report was first published on 8 August 2019.
On August 8, 2019, NilePay PLC, a leading Electronic Financial Services Company, partnered with Zain South Sudan to launch the first licensed mobile money service in South Sudan, NilePay Mobile Money.
The partnership aims to address significant barriers hindering consumers in South Sudan from fully utilizing global eCommerce opportunities.
According to Darius Mobe, Director of NilePay Mobile Money, the partnership is part of the company's long-term strategy to enable eCommerce and digitize financial services across the country.
South Sudan's capital residents have relied on unlicensed mobile operators to transfer money through platforms created by MTN Uganda and Kenya's M-PESA.
Eng. Magdi Taha, CEO of Zain South Sudan, expressed excitement about partnering with NilePay PLC to bring mobile wallet services to the South Sudan market, making it more convenient and secure for users to withdraw and deposit money while participating in the digital economy.
Worldwide, almost 700 million people have registered mobile money accounts, transacting an average of $1 billion a day. However, 2 billion people lack access to basic financial services, missing out on the advantages that mobile money provides.
Mobile money has enabled Africa to leapfrog to a position where it is alongside, if not ahead of, the developed world in terms of Fintech. South Sudan's 8-year-old economy is ready to join the bandwagon as the interoperability of mobile money services grows.
Asha Marie, Director of NilePay Mobile Money, added that connected customers present a tremendous opportunity that more than a dozen mobile money markets in the world are already seizing through interoperability.
NilePay Mobile Money, named after the famous River Nile, intends to offer the active 2 million mobile users a versatile and secure mobile payment solution, easy to scale and providing a seamless customer experience.
