Corporate News
The Ericsson Group headquarters in Kista, north of Stockholm. The
Swedish telecom equipment maker seeks to grow its mobile money business
in Kenya. PHOTO | FILE
By DAVID HERBLING, hdavid@ke.nationmedia.com
In Summary
- Ericsson plans to develop and deploy mobile-commerce applications integrating financial services offered by telecommunication companies and commercial banks.
- The new venture could help Ericsson to diversify its revenue streams and cut reliance on its traditional business of developing software, hardware and infrastructure for telecommunication firms.
Ericsson has opened the search for a techie to head
its sub-Saharan Africa’s mobile money business in Nairobi, in a
reflection of Kenya’s growing status as the continent’s financial
technology hub.
The Swedish IT firm is seeking a slice of Kenya’s rapidly
growing mobile money industry that facilitates the transfer of billions
of shillings every day.
Ericsson plans to develop and deploy
mobile-commerce applications integrating financial services offered by
telecommunication companies and commercial banks.
“M-Commerce, including mobile payments and
person-to-person money transfers, is identified as a high growth area in
the coming years within Ericsson,” the firm said in a statement.
The new venture could help Ericsson to diversify
its revenue streams and cut reliance on its traditional business of
developing software, hardware and infrastructure for telecommunication
firms.
Ericsson said the incoming mobile financial
services consultant will be expected to scout for business deals by
identifying market needs, making tender bids and marketing its
m-commerce solutions to clients in Kenya and the Eastern Africa region.
“He/she will lead the pre-sales practice team whose
objective is to engage with customers and— in collaboration with the
accounts— strategise around and execute upon successful m-commerce
engagements, tendering and deal closure.”
The company said candidates need to hold an
undergraduate degree in business, engineering or ICT, and have 10 years
experience in developing and selling mobile technologies.
Ericsson said it is seeking to develop “inter-operable” and “real time” applications for the financial and telecom industries.
It has developed Ericsson M-commerce Interconnect
(EMI) which acts like a global clearing house for banks and telcos
undertaking international financial transactions such as remittance and
mobile payment services.
“This unique service simplifies transactions
between mobile wallets and or accounts and wallets and provides real
time payment routing, foreign exchange, clearing and settlement, in line
with regulatory rules,” Ericsson said.
The Stockholm Stock Exchange-listed firm last month
signed up MTN Uganda to roll out its Ericsson Converged Wallet (ECW),
which combines a mobile wallet and a billing system to allow for retail
payments.
The Stockholm-based company opened its Nairobi
regional hub in 2006, and currently Ericsson provides equipment,
software and services to Kenyan telcos including Safaricom.
Safaricom has jointly awarded Ericsson and Chinese
firm Huawei a contract to build its Sh10 billion metro fibre optic cable
expected to cover a length of 2,400 kilometres.
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