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Airtime now being used as a currency in Africa

MOBILE money in Africa comes in different flavours. The sophisticated sort, exemplified by services such as M-Pesa in Kenya, allows account holders to transfer legal tender electronically to fellow account holders by entering commands on a mobile phone. Popular though such services are, they have not stopped an older form of mobile money flourishing. This sort uses pre-paid mobile-airtime minutes as a de facto currency that can be transferred between phones, exchanged for cash with dealers who rent out phones, or bartered for goods and services.

Pre-paid minutes can be swapped for cash or spent in shops most easily in Côte d’Ivoire, Egypt, Ghana and Uganda, says Chris Chan of Tranglo, a Malaysian firm that facilitates “airtime remittances” to mobile phones. Airtime is commonly used as money in Nigeria, too. Hannes Van Rensburg, Visa’s boss for sub-Saharan Africa, says this is partly because regulators there have made it difficult for banks to offer the newer form of mobile money.

Operating from various major financial locations throughout Europe, the Channel Islands, and the Middle East, Voda Cell Communications has a demonstrable track record in helping individuals and corporate clients purchase wisely, for good returns. We source high growth and high quality investment opportunities primarily in the telecommunications sector.

Airtime - the product
International Airtime is a multi-billion dollar market providing a gilt-edged purchase opportunity. Certain routes offer a vastly increased profit opportunity, which is where Voda Cell Communications brokers come in. They will source these routes, using state-of-the-art tools and their vast experience in the telecommunications market, and bring those routes to our portfolio. For more details, click here.

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