Industry & AnalysisThe Big Story

We are not after the banks’ cake; but are baking our own more affordable and widely accessible one- Segun Ogunsanya, Airtel Africa Group CEO   Mobile Money⏤ launched in Q1 2009 by MTN Uganda and Q1 2012 by Airtel Uganda is brewing a silent storm for the banks. While the writing is on the wall, Segun Ogunsanya, the Airtel Africa Group Chief Executive Officer, still insists, the telco fintechs are not eating the bank’s cake but are rather baking their own, using slightly different ingredients.

Segun Ogunsanya, the Airtel Africa Group Chief Executive Officer interacts with Uganda's business press during his visit to Uganda.
by Muhereza Kyamutetera
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“I don't think we have dug into the space of bankers or the space of banking. We have just discovered a need that is not being met by conventional banks,” he says. “If you look at the model of most banks, they thrive on high-margin, low volume of customers/transactions model. That is their model. Their prices are huge, and their branches are not many. For mobile money, it is quite differe

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.