Mobile financial services promoted in Ivory Coast

Key financial industry players, convened by the International Financial Corporation (IFC) and the MasterCard Foundation met May 14, 2013 in Abidjan to build further momentum for mobile financial services in Ivory Coast.

The event recognized the market’s enormous potential, especially for increasing access to finances for low income households, small scale businesses and in hard-to-reach areas.

The event also marked the beginning of the implementation of a four year programme by IFC and the MasterCard Foundation to contribute to the development and expansion of mobile financial services in the country.

“IFC and the MasterCard Foundation want to help local financial institutions realize the opportunity in Ivory Coast for the development of agent banking and mobile financial services that will accelerate the reach of financial services to those currently without banking services”, Cassandra Colbert, IFC Resident Representative in Ivory Coast said.

Mobile network operators in Ivory Coast are said to have registered more than two million mobile financial services customers in the past three years.

By Dorcas Appiah