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FinTech

Fortumo Launches In Algeria, Ghana and Tanzania

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Mobile payments platform specialist Fortumo is now offering its carrier billing services in three additional African markets -- Algeria, Ghana and Tanzania.

The company has struck deals with mobile operators in those countries that enables them to offer what is known as 'carrier billing' -- the ability for consumers to pay for goods and services via their mobile service provider.

Founded in 2007, Fortumo has developed a system that enables mobile users to pay for services -- such as games, music, video and apps -- through their mobile account, with their service provider either deducting the value of the transaction from their credit or charging them on their monthly bill.

Fortumo notes that the three new markets in which it is active all have low levels of credit card penetration -- Algeria at 6%, Ghana at 0.9% and Tanzania at 0.7%. As a result, few people have the ability to pay for online content.

Now, though, digital content owners are able to offer their products to mobile users in those countries and have the payments collected by the mobile operators using Fortumo's platform.

In Algeria, Fortumo has struck a deal with all three mobile operators -- Djezzy, Mobilis and Ooredoo.

It's a clean sweep in Ghana too, where Fortumo has brokered deals with MTN, Vodafone, Airtel, Expresso and Tigo.

In Tanzania, Fortumo currently only has a deal with Airtel, which has a market share of about 30% (about 12 million users).

Fortumo is already active in 10 other African markets -- Cote d'Ivoire, Egypt, Ethiopia, Kenya, Morocco, Mozambique, Nigeria, Senegal, South Africa and Tunisia.

— The staff, Connecting Africa

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