In this interview, he shed light on the workability, benefits and the potentials of the policy. Excerpts:

In the interest of a layman, tell us what mobile money is all about?

Mobile money basically involves the use of mobile phones to carry out financial transactions and it comes in various forms and processes. It is as simple as using your phone to access your bank account to check balances.

The more advanced part of it requires using your phone as a means to carry out some transactions in terms of payment of goods and services, not by exchanging your phone in return for service. Accessing financial transactions by means of communication to make it happen. Mobile money is basically a way to facilitate financial transactions among people, using the phone as a medium to make it happen.

Who are involved in the implementation plan?

Stakeholders in mobile money are varied. First is the regulators, who are responsible for creating the policies and guidelines that should guide it. The role of the regulator is to ensure that when people say you have converted a financial transaction, the recipient gets value for that money and has not been cheated out of his or her money by use of the phone.