Mobile Money and Payment Systems: Follow me to #EOBS2017

Mobile Money and Payment Systems: Follow me to EOBS2017

On 22 March 2017, the players in digital money in Ghana met and deliberated. Here is my report.

 

Only a third of Ghanaians have bank accounts and the trend is banks are closing branches and focusing on corporate banking. In 2009, however, mobile money was launched in Ghana and this system also reach the unbanked. In 6 months last year the total transactional value of digital transfers was GHS 30.6 billion.

What is the future of mobile money & digital payments in ??Ghana? I'm at #EOBS2017 to find out. https://t.co/g2rHlj11NQ https://t.co/ub4Drk19Sf

What is the future of mobile money & digital payments in ??Ghana? I’m at #EOBS2017 to find out.  http://www.ghanaeconomicoutlook.com/program/ pic.twitter.com/ub4Drk19Sf
The challenge to modernize the banking sector Ghana about 10 years ago, says Archie Hesse of GhIPSS. #EOBS2017 https://t.co/kAhKbmf7la

The challenge to modernize the banking sector Ghana about 10 years ago, says Archie Hesse of GhIPSS. #EOBS2017 pic.twitter.com/kAhKbmf7la
There are 2 major problems: 1. Majority of Ghanaians are unbanked, 2. Most of our transactions are carried out in cash – Hesse. #EOBS2017
Until GhIPSS created a check clearing system, transfers with check in Accra took 3 days, between Accra – other parts of Ghana 7! #EOBS2017
Hesse says Ghana is doing well. Gh-link has made it possible to draw money from any ATM, “Perhaps for a fee, but it is possible” #EOBS2017
“We are now moving to instant, instant, instant, instant.” – Hesse Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) #EOBS2017
We were challenged by the VP to Full financial inclusion & enable transfer mobile wallet->eSwich->bank account. – Hesse. #EOBS2017

What Infrastructure is Needed for the Sector to Blossom?

Next an interesting convo on what tech backbone is needed for development. Do we need 4G? Or do we leverage on current system? #EOBS2017
First reference of the day to Silicone Valley. Just before we heard there’s no network in Oboase to enable a mobile money merchant.#EOBS2017
Direct question to @KWAKU101 of Ghtelcoms: When can we have 2G everywhere in Ghana? #EOBS2017
I thought the same – maybe for some in the #EOBS2017 room 2G is the lower limit of their world? 🙂  https://twitter.com/retornam/status/844578314920456192 …
“We have 90% coverage, then there are areas which are low revenue generating. Networks are cooperating in those areas” – @KWAKU101#EOBS2017
Comment from the audience: for expanding the market for data products, access to fast Internet matters. #EOBS2017
Reminder from @saqibnaz that power is a major challenge for the tech sector. #EOBS2017
People watching at @Ghana_Business Economic Outlook & Business Strategy Conference 2017 #EOBS2017 pic.twitter.com/ZShE3IctG5

What’s next?

Merchant payments
Next wave of payment modernisation we think will be merchant payments, many-to-one, says Saqib Nazir @InterpayAfrica#EOBS2017
The opposite, nano-payments, allow day labourers and currently unbanked to access services such as insurance, paying daily. -Nazir #EOBS2017
Rural network expansion
There is Ghana Investment Fund for Electronic Communication working on rural network expansion. More info:  http://gifec.gov.gh #EOBS2017
Using mobile money agents for many more services
Account from Zimbabwe: Mobile money agents have trust in the community so can be used to educate consumers! #EOBS2017
Next is integrating mobile money (transfer between telcos& banks) and expanding access to banking. #EOBS2017 https://twitter.com/fkoku/status/844591032268455938 …
Comments from the floor on that much of Ghana is still unbanked. What can we do with local languages? Education on mobile money? #EOBS2017
Eli Hini of @MTNGhana Mobile Money says he is looking for content to provide to his customers. Cc @BloggingGhana #EOBS2017
Disruption!
Dr. Sharron McPherson, Centre for Disruptive Technologies, talks about how @Uber @mysocietyone @Airbnb disrupted their fields. #EOBS2017 https://t.co/t1Uu7zuoNu

Dr. Sharron McPherson, Centre for Disruptive Technologies, talks about how @Uber @mysocietyone @Airbnb disrupted their fields. #EOBS2017pic.twitter.com/t1Uu7zuoNu
We are talking not just of future of banking & payment systems, but how this will transform every sector in Ghana, says McPherson #EOBS2017
Fascinating payment innovation timeline. #EOBS2017 https://t.co/R8WMtFkITj

Fascinating payment innovation timeline. #EOBS2017pic.twitter.com/R8WMtFkITj

Mobile money is already changing lives – and businesses

My q: Two years ago, my niece became mobile money merchant. Today, she employs 3. Where will my niece be in 2, 5, 10 years? ??#EOBS2017
MMoney wil raise savings 4 investmnt jobs, growth, lower poverty~@MBawumia @TelecomsChamber @MTNGhana@VodafoneGhana @airtelghana #EOBS2017
I ended my reporting with an online survey – among those who answered less than 2/10 use mobile money or digital banking.
Thanks for reading my #EOBS2017 tweets. Now before you go: How did you pay for things today? ???
I also took a selfie with Kwaku Sakyi-Addo of the TelecomsChamber (former well-known journalist). But to see it you have to head over to Instagram, I’m @KajsaHA there too. Kwaku was also happy with the conference!
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Introducing The Flint and its Initiator: Emmanuel Quartey

A couple of weeks ago, I got an email with a very long text about WhatsApp marketing in Accra. Sure, I am a social media fan, but marketing and WhatsApp are not exactly my areas of interest. Still, I read the entire article and said to myself, something like: “I need to know more about this high quality initiative taking social media so seriously in our local context”. So, I contacted the initiator and asked him a few questions. Here is my interview with Emmanuel.

1. Who are you and what do you do?

My name is Emmanuel Quartey, and up until very recently, I was the General Manager of the MEST Incubator (which funds and supports early stage tech startups) in Accra. I consider myself primarily a product designer, but to be honest, I find the “what do you do” question increasingly difficult to answer these days. For money, I’m currently doing product design and digital marketing consulting. Otherwise, I’m working on The Flint, and saying “Yes” to all sorts of inbound requests from founders and VCs to chat about some a broad range of topics. So in summary: I write, I design, I figure out how to get people excited about things on the internet, and I have conversations with interesting people who’re working on interesting things.

2. Why do you do what you do?

I do what I do:

  • Because I want to know how and why things are. I get a special bone-deep thrill from understanding how things work, especially human systems. When this happens, I want to tell everyone about what I learned.
  • Because I’m fascinated by the relationship between the words of ideas, and the world of made things. I’m driven by the desire to understand how it is that some ideas make the leap from a mind to “reality,” while others get smothered immediately.
  • Because I feel I’ve been incredibly lucky and privileged, and I feel an obligation to make the opportunities I’ve had available for as many people as possible.
  • Much of this is motivated by my mother, whose life has been defined by service to others.
  • I’ve been very motivated throughout my life by school – I’ve had incredible teachers and the attended institutions with very strong missions. Primary school was St. Paul Methodist in Tema, whose motto was “Knowledge is Power”, High school was SOS-Hermann Gmeiner International College, whose motto is “Knowledge in the Service of Africa”, College was Yale, whose motto, “Lux et Veritas” means “Light and Truth”…It sounds corny but that underlying message of learning and sharing knowledge means A LOT to me and drives a surprising amount of my thinking and actions.
  • Even more, I am motivated by fear and anger. Fear because there are these horrible forces out in the world and I worry that we’re not equipped to withstand them. Anger because we could be so much more. We could be SO much more.

3. What is The Flint?

On a very practical level, The Flint is an online publication about technology in Africa, aimed primarily at non-technical African entrepreneurs who’re eager to leverage technology to achieve more. I meet so many people pursuing fascinating ideas, but they lack the exposure to simple tools and processes that’ll help with user acquisition, recruitment, etc etc. Technology can be a productivity-enhancing multiplier for literally everyone, but too much of the knowledge is trapped in highly technical writing aimed at tech startups.

More conceptually, The Flint is also a vehicle for me to explore ideas around digital media. I believe that in the future, literally, every company will be a digital media company. By which I mean that every company will be in the business of acquiring, translating, storing, and distributing information. Manufacturing? Files (information) of objects will be transmitted (distributed) to be printed (translated) on site. Housing? Airbnb owns no property and yet manages the flow of information to put millions of people into millions of homes. Sports? Sports teams are already experimenting with placing fitness trackers on athletes and repackaging those statistics into content that is consumed by sports fans.

I genuinely believe this is the direction we’re heading in, and I very much want to understand as much as possible about how digital media entities work. What better way to run one myself? It’s very much an exercise in working and learning in public – in addition to the interviews, I’ll be sharing updates on what I’m learning while building The Flint. I’ll learn a ton and hope people will be interested in learning along with me.

4. The name clearly is about sparks, what fire to do want to light?

Racial justice means a lot to me. I want us to wake up to the fact that we have the tools to become masters of our own destiny. It begins by changing our relationship to our work – whatever “work” means to you from a chore, to craft. We need to 1) become craftspeople and domain experts in everything we do, and 2) we need to TEACH EACH OTHER how to level up.

We need to learn how to do hard things.

5. How do you see Ghana today and where do you see Ghana in 5 years?

Oh, goodness! Ghana leaves me both incredibly excited and intensely frustrated. I think Ghana is genuinely something special on the continent. I think our tiny nation has often proven that we have a remarkable ability to lead the way for the entire continent, and I think we’re dimly aware of that fact.

I don’t know where we’ll be in 5 years.

I hope we’re at a place where we realize we, collectively, need to be so much more serious about so many more things.

6. What is your best advise to someone who wants to create change?

I’m hesitant about answering this question but:
Courage is contagious. If you see something that isn’t right, say something, or do something about it to the extent of your ability. Someone once said that courage isn’t the absence of fear, but the triumph over it. When you step up, you give other people permission to do same. They agree with you, but they were waiting for someone to say it first. “If not you, then who? If not now, then when?” – Hillel the Elder

Find your tribe. Chosen families are powerful. Find your people who resonate on the same frequency as you and let them nourish you. It’s important to note that your tribe might not be your biological family or members of your school or religion. You might have to go far afield, but find them.

There will never be a perfect time. Planning can quickly become procrastination. Do it, even a small version of it. Do it now. Throw the bottle into the sea. Your people will find you, no matter how faint your signal.

Do cool things. Tell people about it. Repeat. People will mimic you. That’s how change happens, I think.

7. What do you want to promote? (a book that changed your life, what someone who wants to write for The Flint needs to do, go to grad school, don’t go to grad school etc.)

I’m very eager for people to contribute their knowledge to The Flint! The Flint wants to become a community of makers and craftspeople creating and sharing knowledge with each other.

If you don’t have the time to write, don’t worry – reach out to me and if I think your story will be instructive for others, I’ll write it for you. The things that make a good story for The Flint:

  • It reveals new facts or data that people would be surprised to know
  • It teaches a process/framework that can help a group of Africans do more
  • It involves technology in some way (note: “tech” can be as simple as a telephone)
    People can pitch ideas at emmanuel@theflint.io

Thank you for sharing, Emmanuel! I especially liked how you linked change not just to start-ups and entrepreneurship, but to civic courage and speaking up.  I wish Emmanuel all the best with his fiery, new project and hope you also like The Flint!

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Enter the Media Kit for Bloggers

So I have quietly been working on some interesting blog related projects, I will tell you more soon. I’ll start by outdooring my media kit.

I got the idea from Swedish blogs which often have them and when the Influencers of Sweden wrote about how to make your own, see for instance this post with three examples of media kits in English,  I came up with this doc that you can download from my Contact-page. See a first version below:

The idea is that potential collaborators and media people will be able to get a summary of what the blog is about and how influential it is (measured in followers, visits, etc).

Does my media kit summarise my blog? If you are a blogger, will you make one?

 

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