Fortumo expands in Africa, launching payments in Cote d’Ivoire, Ethiopia and Senegal

Fortumo expands in Africa, launching payments in Cote d’Ivoire, Ethiopia and Senegal

Today we are happy to announce the launch of carrier billing in 3 new African markets. More than 52 million people in Cote d’Ivoire, Senegal and Ethiopia can now make seamless digital payments and get the purchases charged to their mobile phone bill. App stores, digital merchants and game developers using Fortumo can now significantly increase their payments reach in some of the most underbanked countries of the world.

In Cote d’Ivoire, Ethiopia and Senegal, the percentage of bank card owners is below 2%. At the same time, carrier billing is available to any prepaid or postpaid mobile account owner. This means merchants using carrier billing can reach a paying audience twenty times bigger than with traditional payment methods.

Quick economic growth coupled with access to low-cost smartphones has positioned Africa as an exciting region for digital content merchants. At the same time, it has been difficult to accept payments from users as the continent is very diverse and fragmented. Carrier billing solves this challenge by allowing merchants to integrate one pervasive payment method which is accessible to any mobile phone owner regardless of their location.

Key information about Cote d’Ivoire (Ivory Coast):

  • Population: 20 million
  • Mobile phone penetration: 86%
  • Fortumo coverage: 65% of mobile users (12 million)
  • Credit card penetration: 1.2%

Key information about Senegal:

  • Population: 14 million
  • Mobile phone penetration: 100%
  • Fortumo coverage: 65% of mobile users (9 million)
  • Credit card penetration: 1.1%

Key information about Ethiopia:

  • Population: 94 million
  • Mobile phone penetration: 34%
  • Fortumo coverage: 100% of mobile users (32 million)
  • Credit card penetration: 0.4%

Fortumo now covers 21 countries in the Middle East & North African region, with 7 countries in Sub-Saharan Africa (Cote d’Ivoire, Ethiopia, Kenya, Mozambique, Nigeria, Senegal and South Africa). We also plan to add additional countries later this year. For now, nearly 600 million mobile users have access to carrier billing through Fortumo in the Middle Eastern & African region. Additional data and insights into the region’s carrier billing ecosystem can be found from our recent market report on Middle East & Africa.

Want to launch carrier billing in the new African markets and 90+ other countries globally? Sign up for an account with Fortumo for free!