Ericsson penned a five-year deal to expand and modernise Mozambique Telecom’s (TMCEL) network and digital services ecosystem, a move with a focus on boosting the operator’s mobile money solutions.
In a statement, the Swedish vendor said it will supply the Ericsson Wallet Platform which is to be utilised by those without access to traditional banking services, enabling them to transfer, withdraw money and pay merchants and use financial services such as savings and loans.
Financial details of the deal were not revealed. The company added mobile money solutions enable access to health and education services and create employment opportunities.
Mahomed Rafique Jusob Mahomed, TMCEL chairman of the board, said: “Through this partnership, we look forward to working with Ericsson to further enhance our value proposition and expand our ecosystem. Ericsson’s global experience and innovative solutions will allow us to meet the personalized and rapidly changing requirements of the digital marketplace in Mozambique.”
Todd Ashton, Ericsson VP, and head of South and East Africa, added: “TMCEL’s ongoing commitment to innovation and enhanced customer experiences is proof of TMCEL’s efforts to offer benefits to Mozambique especially in the area of digital wallets. This project is a key aspect to the economic development of the nation and will also be a key enabler for connecting and supporting new emerging industries in the country."