(PRWEB) April 21, 2016
As Mobile Money services continue to grow in popularity in the United Republic of Tanzania, the Tanzania Communications Regulatory Authority (TCRA) has had the foresight to implement a technological platform to enable the monitoring of mobile money services in the country. The Mobile Money Monitoring (M3) platform provided through the joint efforts of SGS-Société Générale de Surveillance (SGS) and Global Voice Group (GVG) and inaugurated in 2015 by the Hon Prof Makame M. Mbarawa, Minister of Communications, Science and Technology, is making this possible. Tanzania is now the first country—in the East African region, and also in the entire world—to implement a Mobile Money monitoring solution.
The M3 solution developed by GVG consists of a data acquisition and processing system for the monitoring of all mobile money transactions in any given country. The TCRA’s M3 system captures all the transaction data from each mobile money application for the purposes of monitoring, verification and analysis. The system also allows the Regulator to monitor the evolution of the mobile money market closely and importantly, the level of compliance with Tanzania’s laws and regulations.
Although Mobile Money services have many advantages: financial inclusion, secure transactions, socio-economic development, additional revenue for the State and job creation, the absence of strict, appropriate regulations poses a serious threat to the economy and the security of the nation. These risks are not limited to fraud, and extend to identity theft, money laundering and the illicit financing of terrorist activities.
By acquiring GVG’s M3 platform, the TCRA is able to offer Tanzania the best of both worlds: financial inclusion, socio-economic development for all and a preserved national security. Prof. Mbarawa, has recently praised the TCRA’s efforts in fulfilling its mandate creatively and innovatively.
About Global Voice Group
Founded in 1998, GVG develops and implements governance technologies specifically designed for telecom regulators and tax authorities. . Currently, its advanced traffic, fraud and quality of service management systems are successfully used in ten African countries, such as Congo-Brazzaville, Guinea-Conakry, Ghana, Rwanda, Tanzania, Liberia, the Central African Republic, Senegal, Gabon and Togo. GVG is a member of the International Telecommunication Union and the recipient of the 2014 Frost & Sullivan Best Practice Award for innovation in telecommunications management technologies.
SGS is the world’s leading inspection, verification, testing and certification company. The group is recognised as a global benchmark of quality and integrity. SGS employs more than 70 000 people and operates a network of more than 1350 offices and laboratories around the world. SGS Tanzania Superintendence Company Ltd has been active in Tanzania since 1962 and has accumulated more than 50 years of experience working with the Tanzanian government and its different institutions, as well as with the population. SGS is the most important inspection firm in Tanzania, with more than 350 employees working in different regions of the country. The company has its head office in Dar-es-Salaam and offices in Tanga, Mtwara, Kigoma, Mwanza and Zanzibar, and in the mining sites of the Lake zone.