SocGen launches Cameroon mobile money service

Source: Société Générale

Société Générale de Banques au Cameroun is launching Monifone, the first multi-operator service to transfer money and pay invoices by mobile phone in Cameroon.

In addition to mobile payments, Monifone's unique characteristic is to offer services to non-SGBC clients and to indivdiuals who do not have a bank account. This offer follows in the footsteps of Yoban'tel, which was developed by Société Générale de Banques au Senegal.

Monifone is a simple, fast and secure service that is designed to meet the various needs of clients by providing services such as:

  • money transfer to persons whether or not they are subscribers to Monifone
  • money withdrawals and deposits within an approved network of outlets (SGBC and its partners)
  • internet credit recharge by mobile phone
  • international money transfer solutions
  • enabling companies and public institutions to pay wages, pensions and healthcare benefits to individuals without a bank account

Two partners, microfinance institutions Advans and Credit Communautaire d'Afrique (CCA), already offer Monifone to their clients.

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