State telco Camtel to launch mobile money service in Cameroon
State-owned Cameroon Telecommunications (Camtel) will soon launch an electronic money payment solutions, to challenge Orange and MTN, in the mobile money space.
Stéphane Edimo, Camtel’s head of marketing and communication, said the company is stepping up efforts to enter the lucrative mobile money space with its service, Blue Money.
Blue Money will be housed under its Camtel’s recently launched commercial unit Blue.
The Blue Money offering will be coming into a market already dominated by MTN Mobile Money and Orange Money.
There are also other fintechs making a play in space such as UBA’s M2U Money, Express Union Mobile, Campost-YunusPay, amongst others.
Edimo told ITWeb Africa: “We are on the threshold of one million [Blue] subscribers, barely 20 months after the launch of this brand, and we are aware that the launch of Blue Money will give us an indisputable footing in Cameroon.”