Accra International Conference Centre, Accra, Ghana, 19th - 20th March 2013 - Ghana
Now entering its sixth year as the region’s leading banking forum, AITEC Banking & Mobile Banking West Africa 2013 will address the key issues faced by the region’s increasingly dynamic financial services sector.
African banks have a great challenge in overcoming their heritage of colonial banking, which was designed to cater primarily for government, corporate and high-worth individuals. The bottom part of the pyramid has been badly neglected. Now that the mobile operators are setting the pace in terms of providing low-cost banking services, banks are scrambling to catch up. This they can do not only through technological innovation, but also through a customer-oriented corporate culture and service innovation.
Mobile banking is the future, not a fad. Because most central banks are also tied into the old banking paradigm, they don’t fully understand the dynamics of mobile banking, worry about the risks involved and therefore resist it. No doubt they are also encouraged to do so by the banks who don’t want mobile operators encroaching into their space.
Ghana is a notable exception. There, the Central Bank has taken the risk of allowing mobile operators to provide money transfer services – and it has benefited millions and reduced money transfer costs substantially. Money moves around the economy far more efficiently and quickly and in that sense, a higher level of financial inclusion has been achieved.