In a statement released on December 28, telecoms operator MTN Cameroon has announced that it is now possible for its subscribers to receive MoneyGram international money transfers to their Mobile Money accounts.
“Our customers receive the money directly on their phones and can dispose of it without the stress of filling out documents or the constraint of traveling to any agency”, explains MTN Mobile Money director of MTN Cameroon, Alain Claude Nono .
For his part, says John Gely, head of MoneyGram Africa, the materialization of this partnership is part of its strategy in Africa, where a big leap was made in 2020 by allowing users to access mobile wallets and offer solutions. deposits in accounts.
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To the question of whether this activity is not at odds with the regulations of the Bank of Central African States (Beac) which had banned, in 2017, MTN Cameroon’s transactions outside the zone Cemac. The operator indicates that everything is in order. Because “it is only a question of receiving money and the amounts are limited”, informs one source at MTN.
MTN Mobile Money’s electronic wallet has been operational in Cameroon for 10 years now and allows users to send and withdraw money, pay their bills free of charge in stores and pay for several other services. With 80,000 active access points across the 10 regions of the country, the operator thus claims the largest national distribution network.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer