Context
Despite its success in Sub-Saharan Africa, mobile money has not yet reached its full potential. So far, operators have focused on acquiring customers by primarily addressing the needs of unbanked individuals. However, there remains a significant opportunity to develop services targeted at businesses.
Recognizing this, the GSMA sought to assess the financial service needs and adoption barriers of micro, small, and medium enterprises (MSMEs). To achieve this, the GSMA partnered with Sofrecom to conduct a quantitative and qualitative study in a Central African country with a thriving mobile money industry.
The study aimed to:
- Understand the usage, perception, needs, and expectations of MSMEs
- Identify opportunities, drivers, and barriers to adoption
- Design the essential features of a mobile money account for businesses
Methodology
Qualitative workshops and quantitative surveys
In the first phase, 8 qualitative workshops were conducted, bringing together MSME business leaders from 5 sectors: agriculture, trade, road transport, crafts, and services.
In the second phase, 200 quantitative surveys were administered to a selection of formal and informal, rural and urban businesses, including respondents who were either banked or mobile money users. These interviews quantified potential demand and prioritized the services and features identified in the first phase.
For this study, our consultants defined the methodology and recruitment criteria. They developed the screening questionnaires for the qualitative workshops and the quantitative phase. To ensure end-to-end project quality, they also supervised the work of the local partner responsible for recruiting participants, facilitating qualitative workshops (focus groups), and conducting face-to-face quantitative surveys.
A key deliverable: a value proposition for a B2B mobile money serviceBased on the insights gathered, our consultants defined the best value proposition for a B2B mobile money service. Its main features were selected based on two key parameters: the level of interest among MSMEs and the ease of implementation.
Results
Thanks to this study, the GSMA identified the specific expectations of MSMEs regarding mobile money, as well as the main barriers to its use. The priority features to be developed were clearly identified. The GSMA is now equipped to provide mobile operators with essential data and precise recommendations to address this high-potential market segment.
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