MICROCAPITAL BRIEF: Senegal’s Expresso Telecom Rolls Out “E-Money” Mobile Payments in Partnership with Etisalat’s Emirates Data Clearing House

Expresso Telecom, a mobile services provider based in Senegal, recently rolled out a product called E-Money in partnership with Emirates Data Clearing House (EDCH), a unit of UAE-based Etisalat Services Holding. E-Money allows customers to store funds and transfer money to individuals and merchants across Senegal.

Etisalat describes E-Money as “a complete system for the unbanked, and also delivering non-traditional transformational services to the banked population and businesses requiring more flexible services.”

In addition to Expresso Senegal, Expresso Telecom operates Intercel Guinea and Chinguitel Mauritania. Formed in 2007, the firm is registered in Dubai and employs 500 people.

Founded in 1976 as the Emirates Telecommunications Corporation, Etisalat provides internet, television, fixed-line telephone and mobile communication services. Since 1983, the government of the United Arab Emirates has held a 60-percent share of the company, leaving the remaining 40 percent to be publicly traded. As of 2016, it had 162 million subscribers in 17 countries in Africa, the Middle East and South Asia.

Sources and Additional Resources:

Etisalat press release
https://www.etisalat.ae/en/about-us/media_center/press_releases/emoney_service_launch.jsp

Etisalat annual reports
http://www.etisalat.com/en/ir/annualreports/annual-reports.jsp

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.