Renewed Push for Nigerian Mobile Money Market

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3Q 2014 | IN-1020316

Nigeria’s Globacom Reenters Mobile Money Service


On August 22, Globacom Nigeria launched the Glo Xchange platform. This platform aims to serve the mobile money users within Globacom, with partnerships from three mobile money operators, FirstBank, Ecobank, and Stanbic IBTC Bank. MTN was the first Nigerian mobile service provider to provide mobile money service by teaming up with Diamond Bank in early August 2014. MTN users have been able to open a bank account and deposit and withdraw their money through SMS. It is believed that Globacom will be launching similar services to its customers.

Better Late Than Never


This is not the first time that Globacom has been involved in mobile money services. Back in 2012, FirstBank of Nigeria signed a memorandum of understanding (MoU) with airtel, Globacom, and Etisalat to ...

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