Vodacom Admits That M-Pesa Roll-out In South Africa Flopped (feat. Dominique Collett)

Published: May 16, 2016, 6:48 a.m.

b"Vodacom is finally pulling the plug on their disastrous six-year attempt to roll out M-Pesa in South Africa. (The service will be shut down on June 30th 2016.)\\n\\nFunny thing is, Vodacom CEO Shameel Joosub has blamed his company\\u2019s diabolical failure to meet their target of enlisting at least 10 million active users on South Africa\\u2019s relatively well-established banking industry. (By the end of 2015 they had only managed to onboard a paltry 76,000 active users.) \\n\\nHowever, Joosub\\u2019s assertion does not sit well with our guest on this week\\u2019s episode of the African Tech Round-up\\u2014 the brilliant and insightful, Dominique Collett. \\n\\nDominique knows a thing or two about what works and what doesn\\u2019t in terms of mobile money innovation on the continent. Following a successful exit at the incredibly successful fintech startup she co-founded-- Tyme (acquired by the Commonwealth Bank of Australia for a rumoured \\xb1USD30 million), Dominique has gone on to become a financial services investor and innovation architect who is now a Senior Investment Executive at Rand Merchant Insurance Holdings (RMI), as well as the Head of Alpha Code, RMI\\u2019s nippy financial services incubator/accelerator.\\n\\nListen in to this week's discussion to hear Tefo Mohapi, Andile Masuku and Dominique ponder what lies ahead for Africa\\u2019s mobile money scene.\\n\\nMusic Credits:\\nMusic by Kevin MacLeod (incompetech.com)\\nMusic licensed under Creative Commons: By Attribution 3.0"