Some time this year I came across a brochure from fnbzambia about cellphone banking. Just like most people with very little interest to read I quickly put the brochure in my bag telling myself that maybe it was just like some of the Accounting products that we have seen come and go in Africa, Until I came across this report entitled Africa Mobile Fact book 2008.
These latest mobile phone market statistics gave me a clue and opened my eyes into the future business opportunities in the wireless revolution that has made Africa the world’s fastest growing mobile market.
According to these statistics, the African market is expanding nearly twice as much as Asia providing a very bright future for innovative cellphone services such as cellphone banking which provide convenience and other value added services on the African market.
Services such as SMS is expected to gain massive market popularity as the subscriber base increases making Africa the fastest growing in the world with mobile penetration in the region ranging from 100% to 30%.
For example, in South Africa alone, the mobile penetration rate is 84 percent. When I read this, I even said to my self that this exactly explains why FNB Cellphone Banking is already a huge success in South Africa.
In addition, the total subscribers in the region are expected to reach up to 561.18 million translating into 53.5% by 2012.
Cell Phones have indeed become a part of modern-day life in Africa. It is not unusual to see an old farmer riding in an oxcart while talking on a cell phone and a beggar pause in his solicitation to make or take a call on his phone.
Technology has found its way into every corner of the world even crossing the barrier between the rich and poor and has become a part of life for many in Africa.
The problems of mobility, convenience and security continue to exist in Africa and innovative products such as cellphone banking that give small business men and women the ability to perform business banking transactions anywhere and any time in a convenient and secure manner will enjoy a great success and market share in Africa.
About the Author:
Fixed Asset Consultant at Prosperity Agencies Limited with over 10 years practical experience in physical verification, bar-coding of assets and fixed asset software implementation +260 211 239859
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This is a very good post with good statistics. I would also like share this article I came across on goafrica about Using a Cell Phone While Travelling in Africa I found it very useful.
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