The Tanzania Communications Regulatory Authority (TCRA) recently launched a Mobile Money Monitoring (M3) platform, a technology-enabled tool that monitors mobile money services in Tanzania. Tanzania is the “first country in the world” to implement a digital solution that monitors mobile money transactions [1].
M3 platform is a joint product of Société Générale de Surveillance (SGS), an inspection, verification, testing and certification company; and Global Voice Group (GVG), an organization that works with African governments to develop and implement technology to regulate the telecommunications sector and monitor tax revenues. M3 will enable TCRA to capture data from mobile money transactions; monitor, verify and analyse the data; ensure the adherence to domestic laws and regulations; and address risks associated with mobile money services, such as identify theft and other forms of fraud [1].
As of December 2015, SGS reported total assets of CHF 5.9 billion (approximately USD 6 billion), operating income of CHF 822 million (approximately USD 845 million), return on assets of 10 percent and and return on equity of 26 percent. No financial information on GVG is available.
By Imke Herholdt, Research Associate
About Société Générale de Surveillance (SGS)
Société Générale de Surveillance is an inspection, verification, testing and certification company that is headquartered in Switzerland. The organization employs approximately 85,000 employees in approximately 1,800 offices. SGS has been operating in Tanzania through SGS Tanzania Superintendence Company Limited since 1962 and it employs approximately 350 employees in seven office locations in the country. As of December 2015, SGS reported total assets of CHF 5.9 billion (approximately USD 6 billion), operating income of CHF 822 million (approximately USD 845 million), return on assets of 10 percent and and return on equity of 26 percent.
About Global Voice Group (GVG)
Founded in 1998, Global Voice Group works with governments to develop and implement technology-enabled tools for telecommunications regulators and taxation authorities. The company is headquartered in the Seychelles. GVG’s systems are currently used in ten African countries. No financial information on the firm is available.
Sources and Additional Resources
[1] PR Web: Tanzania Deploys the First Mobile Money Monitoring Solution for Regulatory Authorities in the World
[2] Société Générale de Surveillance
[3] Global Voice Group
[4] FT.com Markets: SGS SA
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