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Orange and MTN launch pan-African mobile money interoperability

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Two of Africa’s largest mobile operators and mobile money providers, Orange Group  and MTN Group, today announced a joint venture, Mowali (mobile wallet interoperability), to enable interoperable payments across the continent. Mowali makes it possible to send money between mobile money accounts issued by any mobile money provider, in real time and at low cost.

Mowali will immediately benefit from the reach of MTN Mobile Money and Orange Money , bringing together over 100 million mobile money accounts and mobile money operations in 22 of sub-Saharan Africa’s 46 markets. Mowali is ready to enable interoperability between digital financial service providers beyond MTN and Orange operations and markets, to support the existing 338 million mobile money accounts in Africa.

Mowali is a digital payment infrastructure that connects financial service providers and customers in one inclusive network. It functions as an industry utility, open to any mobile money provider in Africa, including banks, money transfer operators and other financial service providers.

The objective of Mowali is to increase the usage of mobile money by consumers and merchants.  Mowali enables money to circulate freely between mobile money accounts from any operators in all countries. From the customer’s point of view, this means “I can pay or receive money anywhere from my mobile account regardless of my operator”. The system will unlock further innovation in the digital financial space within the continent.

For Stéphane Richard, Chairman & CEO of Orange, “by providing full interoperability between platforms, Mowali will provide an important step forward that will allow mobile money to become a universal means of payment in Africa. Increasing financial inclusion through the use of digital technology is an essential element in furthering the economic development of Africa, particularly for more isolated communities. This solution embodies Orange’s ambition to be a leading player in the digital transformation of the continent. By joining forces with another of Africa’s market leaders, MTN, we aim to accelerate the pace

of this transformation in a way that will change the lives of our customers by providing them with simpler, safer and more advantageous services. “

“One of MTN’s goals is to accelerate the penetration of mobile financial service in Africa, Mowali is one such vehicle that will help us achieve that objective. Furthermore, co-operation and partnerships that help us accelerate the pace of development and overcome some of the scale, scope and complexity of challenges that society faces are key. This partnership with Orange is therefore an important step in helping us play a meaningful role in supporting the United Nations’ Sustainable Development Goals related to eliminating extreme poverty and enhancing socio-economic development in the markets we operate in and beyond. Thus giving our customers access to a bright, digital future.” said Rob Shuter, Group President and CEO of MTN.

The GSMA supports the Mowali initiative as interoperability at this scale is a key accelerator for both financial inclusion and Mobile Money usability across Africa.

“Today, there are over 690 million mobile money accounts around the world. Mobile money services have become an essential, life-changing tool across Africa, providing access to safe and secure financial services but also to energy, health, education and employment opportunities. The creation of Mowali will help to further transform mobile financial services throughout the African region. It demonstrates the mobile industry’s continued leadership and commitment to driving financial inclusion and economic empowerment through industry collaboration. The GSMA is proud to support its development,” said Mats Granryd, Director General, GSMA.

“Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome, in support of financial inclusion. With Mowali, Orange and MTN deliver a solution that will enable them, and other companies, to scale digital financial services across Africa, faster, to everyone—including the poor,” said Kosta Peric, deputy director of Financial Services for the Poor, at the Bill & Melinda Gates Foundation “This is a signal that a new wave of innovation, which can help alleviate poverty and drive economic opportunity, is coming. We’re pleased to see an implementation of Mojaloop—an open source payment platform available to operators across the sector—help achieve that.”

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Banking

Desarrollar Partners with Top Firms to Improve Real Estate Solutions

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Desarrollar Limited a lifestyle and leading real estate solutions company in Lagos, Nigeria has partnered with Union Trustees Limited, First Bank Trustees Limited and Banwo & Ighodalo  and The Lodt Legal Partners to improve real estate services and solutions.

The partnership which was signed on Monday, in Lagos, will unveil Nigeria’s most secure and institutionalized real estate trust consortium aimed at safeguarding the financial investments of Nigerians and Africans living abroad and in Nigeria.

According to the Lead Partner, Desarrollar Limited, Mr Ikemefuna Mordi, the trust framework includes Nigeria’s leading Trustees, legal firms and real estate firms which will work towards ensuring and providing real estate solutions.

Ikemefuna said, “Desarrollar and its partners have created an institutionalised safe-haven to protect Nigerians and Africans in the Diaspora and those living on the African continent from fraud, deception and, sometimes, misplaced dependence on dishonest family-based relationships, through delivering full, seamless and stress-free lifestyle colutions to the Nigerian and African communities both at home and abroad.

Managing Director FBNQuest Trustees, Mr. Adekunle Awojobi, Lead Partner Desarrollar Group, Mr. Ikemefuna Mordi and Managing Director/CE UTL Trust Management services Mrs Olufunke Aiyepola at the official all Parties signing ceremony between Desarrollar group, a leading Lifestyle and real Estate solutions company and its partners in Lagos recently

Senior Partner, Banwo and Ighodalo, Mr. Olufemi Banwo and Lead Partner Desarrollar Group, Mr. Ikemefuna Mordi at the official all Parties signing ceremony between Desarrollar group, a leading Lifestyle and real Estate solutions company and its partners in Lagos recently.

He explained t

hat Desarrollar applies a premium standard of excellence to its residential development, commercial development and real estate acquisition services in Nigeria, The United States and the United Kingdom.Their www.desarrollargroup.com throws more light on their Service offerings

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BUSINESS

Afreximbank looks to the future of African business in campaign with CNN

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The African Export-Import Bank (Afreximbank) is raising awareness about investment opportunities across the African continent through a multi-faceted campaign on CNN.
The campaign, established by CNN International Commercial (CNNIC), includes a dynamic mix of event partnership, TV and digital advertising, branded content, and editorial sponsorship. This media mix is across multiple CNN platforms in order to reach a wide range of business leaders, opinion formers and decision makers interested in doing business in
Africa.
The focus of the campaign is Afreximbank’s landmark Intra-African Trade Fair – a seven-day event taking place in Cairo in December offering a platform for sharing trade, investment and market information and enabling buyers and sellers, investors and countries to meet, discuss and conclude business deals.
As media partner for the event, CNN is promoting the Intra-African Trade Fair on CNN International’s EMEA feed and digital platforms via a TV commercial, digital advertising and bespoke Fact Files produced by CNNIC’s branded content studio, Create. CNN will also have a presence on-stage at the event.
In addition, Afreximbank is sponsoring a series of vignettes about different aspects of Africa’s creative industry. These editorial vignettes are produced by CNN Vision, the creative production powerhouse of CNN International.
“This is a rich campaign that draws on many aspects of CNN content, expertise and our different platforms to position Afreximbank at the centre of creating business opportunities across Africa,” said Cathy Ibal, Vice President, CNNIC. “No other international media connects with business decision makers and leaders like CNN, and we look forward to seeing the impact that this campaign can have on Afreximbank’s Intra-African Trade Fair and its initiatives in growing African business.”
“Afreximbank is keen to raise the profile of intra-African trade and to grow its value exponentially over the next few years,” said Kanayo Awani, Managing Director of the Intra- African trade Initiative at Afreximbank, which is overseeing the IATF project. “The Intra African Trade Fair (IATF) is expected to kick start the right conversations that will nudge the continent in this direction and form the foundation of the vital partnerships required to achieve the objectives. This is why partnering with CNN on this campaign is a critical step for us – to reach the right spectrum of audience essential to our vision for the IATF.”
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Brand & Marketing

Aregbe Idris task youths on nation building

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The All Progressives Congress Youth Organising Secretary Lagos State, Aregbe Idris has tasked the youths on nation building as a key in pushing the boundaries of innovation and growth in Lagos and Nigeria.
Aregbe made this known over the weekend at a two-day event tagged “Entertainment as a tool for nation building” at LA Campagne Tropicana Beach Resort, Ibeju, Lekki, Lagos.
The Youth Organising Secretary said, “We are the future of this nation, hence we must find a way to harmonise ideas, stay united, and explore all available opportunities to add value to this great nation.”
While stressing on the need for innovation, Aregbe noted that the youths remain sacrosanct to the growth of Nigeria and concerted efforts must be made to build the country of our dreams.
“Vision, purpose, commitment and unity are the key ingredients needed in building a better Nigeria. But we must be willing to be involved in the ongoing political movement.”
“The youths have vital roles to play in growing this nation,” he added.
The two-day event kicked off with a roundtable discussion where hundreds of youths from different corners of Lagos gathered to share views and insights on possible measures to adopt in pushing the frontiers of innovation and development of the state and Nigeria at large.
Talented musical stars took turns to thrill the youths to tracks off their albums.
With the likes of Dede Mabiaku, Alhaji Malaika, Adekunle Gold and other fine artistes guests were given a full doze of unsullied entertainment.
The two-day ceremony was crowned with a pool party hosted by talented music artiste, Falz.
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