Mobile Telecommunications Limited (MTC), a Namibia-based mobile network operator controlled by the government-owned Namibia Post and Telecommunications Holdings and privately-owned Portugal Telecom, reportedly has partnered with the Bank of Namibia’s mobile payment service MobiPay to launch MTC Money. This mobile payment service allows MTC’s subscribers to transfer money to and from other Mobipay users as well as to upload money and make withdrawals from their MTC Money accounts. The service also allows subscribers to make point-of-sale payments at retail stores, pay utility bills and buy mobile airtime.
As of 2013, MTC reported revenue of NAD 1,617 billion (USD 147.8 billion), net income of NAD 352 billion (USD 32 billion) and a customer base of 2 million people in Namibia. As of 2012, Bank of Namibia, Namibia’s central bank, reported total assets of NAD 15.5 billion (USD 1.4 billion) and its gross loan portfolio stood at NAD 45.5 million (USD 4.2 million).
By Tejas Jain, Research Associate
About Mobile Telecommunications Limited (MTC)
Mobile Telecommunications Limited (MTC), established in 1994, is a mobile network operator that is jointly owned by Namibia Post and Telecommunications Holdings, a Namibian government entity, and Portugal Telecom, a Portuguese telecommunication services provider. As of 2013, MTC reported revenue of NAD 1,617 billion (USD 147.8 billion), net income of NAD 352 billion (USD 32 billion) and a customer base of 2 million people in Namibia.
Sources and Additional Resources:
AllAfrica Article, February 13, 2014, “Namibia: MTC Partners With Mobipay for MTC Money,”
http://allafrica.com/stories/201402130952.html
MicroCapital Story, February 17, 2014, “Myanmar Mobile Money, Mobilemate Telecommunications Launch Mobile Money Services in Myanmar,”
https://www.microcapital.org/microcapital-brief-myanmar-mobile-money-mobilemate-telecommunications-launch-mobile-money-services-in-myanmar/
MicroCapital Story, January 24, 2014, “Telecom Tata Docomo to Expand Mobile Money, Payments to Cover 15 Additional Cities in India,”
https://www.microcapital.org/microcapital-brief-telecom-tata-docomo-to-expand-mobile-money-payments-to-cover-15-additional-cities-in-india/
MicroCapital Universe Profile, Mobile Telecommunications Limited,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mobile+Telecommunications+Limited
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