African economy digitization, a governmental issue
Although the mobile phone boom in African represents a windfall in terms of communication and financial inclusion, it goes along with an increase in fraud and a subsequent loss of revenue for governments due to weak governance in the telecom sector. A penalizing shortfall that Global Voice Group aims to rectify.
This paradoxical situation explains the progressive awareness from African governments of the need for better regulation in the telecom sector. Indeed, mobile telephony tremendous growth represents a unique opportunity for the continent to structure the governance of the sector, optimize regulatory compliance and allow States to take advantage of this windfall for the benefit of their countries in the form of development projects and infrastructures.
This is the credo on which GVG has been consolidating its expertise for over twenty years. With a specific objective: help regulators and government agencies to be part of their digital agenda by providing key data to improve regulation, compliance monitoring, revenue assurance, fraud prevention and digital identification.
A pioneering approach
GVG's solutions were initially focused on monitoring national and international telephone communications, before expanding to mobile money transactions in 2014. The company has progressively launched in fifteen African countries IT projects related to telecom supervision and regulation, fraud management, revenue mobilization, electronic tax control and the oversight of digital financial services..
In terms of digital financial services, GVG processes and analyzes each year 25% of mobile money flows in sub-Saharan Africa. In 2018 alone, the equivalent of 90 billion USD in mobile money transactions were verified. The combination of these approaches has allowed GVG to generate over 2.5 billion USD in additional revenue for recipient countries between 2008 and 2018... Read more on Ecofin Agency
Source: Ecofin Agency