HASBUNALLAHU SUCCESS LINKS ENTERPRISES IN COLLABORATION WITH PRAISES CONSULTING invite the General Public to the new CBN initiative to create amazing wealth for all Nigerians through the GSM Mobile Money Business.
WHO ARE WE?
Hasbunallahu Success Links Enterprises (HASLEN) is an household name when it comes to Information Marketing and Pioneering of most current and latest Information Communication Technology Business ideas.
It is on record that HASLEN (Reg. No.: BN-LAZ 146353) pioneered the MTN – VTU in 2004 which turn over 200 direct vendors to successful entrepreneurs across Nigeria.
Furthermore, HASLEN has empowered over 2000 Nigerians through seminars, workshops and trainings in area of GSM airtime vending, GSM repairs, computer appreciation and entrepreneurial skill acquisition.
Our partner PRAISE CONSULTING is a national ICT, financial training firm and entrepreneurial development centre with a mission to save Nigeria from economic depression through its Youth Empowerment Nigeria Scheme (YES) and Nigeria Share Network (NSN) programme.
WHAT IS GSM MOBILE MONEY?
It means transferring of money electronically from one person to another, using a mobile GSM phone.
ADVANTAGES OF GSM MOBILE MONEY
· Enabling payment anytime, anywhere especially in the rural area where there is no bank.
· It has accurate accounting service system
· Make it possible for payment of bills (DSTV, HITV, etc)
· Easy loading, usage and reselling of air time of all Nigeria Telecom providers.
· Fast and secure mode of transferring money to any bank.
· Enhance the nation’s economy through employment generation and safety cash movement.
· Provision of financial inclusion for over 74% of unbanked Nigerians.
WHY MOBILE MONEY?
Mobile payment is a new and rapidly growing alternative payment method already adopted in Asia, Europe and gaining significant momentum in many parts of Africa such as Kenya, Ghana, Sierra-Leone, Congo, Zambia, Rwanda, South Africa, Senegal, Tanzania and so on. This revolutionary method of payment is especially beneficial to the unbanked and people at the bottom of the pyramid in many parts of Africa.
The Central Bank of Nigeria decided to make sure Nigerians have access to express money transfer and payment even in rural areas. They looked at the banking database and realized that only 22 million bank accounts are available. And that goes to show that about 86 percent of Nigeria does not have a bank account. But there about 86 million GSM subscribers; that is, 86 million Nigerians need to be transferring cash and spending money. So the Central Bank decided to license competent and reliable indigenous private firms and financial institutions to power the initiative as major operators.
WHO ARE THE MOBILE MONEY OPERATORS?
As at the press time, the following have been licensed by CBN as mobile money operators Pagatech Ltd., Etranzact, Ecobank, VTN, Money Box Africa, Fortis MFB, MMIT, Tageattitude Medallion Communication, Clickatell, Comviva, BhartiAirtel, Etisalat and MoneyGram.
The following have applied for license: Mobile Media Info Tech Ltd. Earthonluem networks, Mtec Communications, TXT pay, Easipay, UBA, M-Naira, GTB, Pettatech, etc.
HOW IS THE SYSTEM REGULATED?
CBN is the regulator. It gives license to the operators as listed above. These operators will liaise with telecom companies because you can not do this mobile payment business without the telecom companies. As an operator, you must have N500 million.
The mid or sub-dealers should have between N30millions to N20million to be able to do the job while the agent can start from N30,000 to N1 million. That is the basic money you will need to have in your operator’s merchant account to start operating as an agent.
