I am just waking up after a very short sleep and I have a few minutes before preparing to attend The Future Awards Symposium. So this has to be brief and i hope it is as articulate I want it to be.
Here is the issue, I do not get Mobile Money as it is being attempted in Nigeria. The companies I have heard of seem to be more interested in in painting BRT buses and large billboards rather than being Mobile Money companies.
However, this post is not about my disappointment with the “Mobile Money” companies but rather an opportunity for them. Any real/serious Mobile Money company in Nigeria will salivate at this
Crowd funding and A grand opportunity.
Crowd funding is is one of the few killer applications that makes a business case for Mobile Money and there is a grand opportunity waiting to be taken.
There is a young man called Oke who needs some money to save his legs and his life. (If you get mind, here is the link to his story) The fact of the matter is the money he needs (N5million) can be raised in a single day if there was an easy way to send money to him. At the moment, Twitter is virtually saying “shut up and take my money”. But the true problem for the young man is HOW? The sad truth of the matter is this, 95% of the people absolutely willing to give 1000 or more will not because going to deposit money in a bank account is a really long thing. That is the absolute reality.
If only there was a way we could send money without the hassle of going to a bank, queuing, etc etc… Wait!! that is what the entire premise of Mobile Money is all about. This is the perfect opportunity to prove and show how this thing works! It is one thing to go back slapping yourselves at Mobile Money conferences around the world and claiming to be the next M-Pesa and another to actually do stuff.
What Serious Mobile Money companies should do NOW!
It is a no brainier for a Mobile Money company to provide matching funding for money raised for Oke through their platform. You will be committing bird genocide with a single stone (showing how/that your stuff really work, doing good, awesome PR, acquiring real users, jump starting the industry, having a very relevant case study, etcetc gbogbotigbo).
So MTN, Paga, VCash, PoketMoni, GLO, VTN, Airtel, what are you guys really waiting for. Are you guys real? Can you already grab this opportunity with both hands?
When CCHUB tried to raise money for a roofing project at the police barracks in Yaba, you guys failed, but the implication was a few wet mattresses. However, this time is someones life. Do the right thing for Oke and yourselves.