Mobile money continues to gain momentum across Africa, becoming the go-to method for completing financial transactions without a bank account. The massive use of mobile money has assisted numerous industries, including the gaming business in Africa, notably in East Africa.
The Angola market has caught up with the rate of mobile money acceptance. Unitel Money, a mobile money service, is reportedly ready to be launched by Angola’s major operator Unitel. This is a digital currency that allows Angolans to deposit, withdraw, transfer, and pay without a bank account. The BNA awarded Unitel a license to provide mobile payments in Angola in 2020.
According to Unitel insiders mentioned in the regional press, the service is fully company-developed.
Unitel Money shops and agents will assist it, providing a network of hundreds of mirrored branches around the nation. This banking platform seems to be able to send money to customers’ phones pretty much everywhere in the nation. A local article claims Unitel is the first provider in Angola to offer this kind of banking service. It would be fascinating to observe how Angolans, who number over 31 million, react. However, Ethiopia’s newly established Telebirr service gained significant acceptance due to its attraction to end-users without bank accounts. In less than a month, almost 4 million individuals enrolled for mobile money. Mobile money has become the favored payment method.
Many analysts credit this to the service’s low cost and convenience for unbanked communities.
Just as in the article before it, this new development of mobile money service is crucial for long term Angolan gambling industry expansion and accelerating mobile online betting in the nation. However, since many African nations regulate gaming, the government is changing regulations. Angola has modified its gambling regulations, allowing betting and internet gaming with ten-year licenses.
President Joao Lourenco approved the permission for firms interested in online gaming and betting. Despite the upcoming introduction of Angola mobile money, the market will see substantial growth in mobile internet gaming and betting.
This change will assist existing sports betting businesses like Elephant bet and Premierbet. Moreover, it will encourage other renowned African sports betting businesses to enter the Angola market. Angola’s predicted landslide success in East Africa would place it on the map as the top destination for gambling investors and businesses.