Strategic Market Positioning for Better Performance: Who’s Doing What?

May 2017 saw operators in the Cameroon remittance sector reviewing as well as strengthening their operation strategies in order to either regain or maintain their leading market positions. To be specific, we saw players signing partnerships to gain more market coverage (MTN Cameroon & Societe Generale Cameroun, Express Exchange & the University of Bamenda), some launching new services (MTN Mobile Money withdrawals at Societe Generale ATMs) to boost consumer satisfaction and experience, another expanding its network with new branches (Express Exchange opened 9 new POS), some other deploying a diversified service (Payment of registration fees into the Cameroon Police Academy via EU Registration) while another reactivated a key service which was suspended (WU outbound services reactivated at Emi Money and Societe Generale Cameroun locations).

The above-mentioned actions which were carried out, no doubt, echo the efforts of the players developing and implementing new strategies that would enable them maintain their market shares in the face of a good number of different challenges so as to gain competitive advantage. These highlighted actions, nonetheless, further illustrate the Maturity Stage of the market’s life cycle.

For example, we see the players signing partnerships (MTN Cameroon & SGC) and opening new branches (Express Exchange) to gain more market coverage and maintain market shares, others diversifying their services (EU Registration) and introducing innovative solutions (MTN Mobile Money cash-out at SGC’s ATMs) to boost transaction volumes and attract new customers while others are restoring suspended services (WU outbound transfers) to reboot sales and profits.

In a nutshell, one can say that the major challenge for these operators today, despite the growing competition, is to keep the market from reaching the Decline Stage. This implies working on new strategies that would impact the market, change the present status quo and, above all, look for innovative ways to make their product more appealing to the consumer that will maintain, and perhaps even increase, their market share.



Major Hightlights of the Cameroon Remittance & Mobile Money Market in May 2017


Partnership Development

May 2017 witnessed the signing of two “Big Deals”.

  • Express Exchange partnered with the University of Bamenda (UBa) allowing students to easily pay their tuition fees at its counters and also receive money from parents or relatives instantly. The partnership makes the UBa the third State University partnering with Express Exchange after the Universities of Dschang and Maroua.
  • MTN Cameroon also signed a deal with Societe Generale Cameroun which permits all MTN Mobile Money subscribers to instantly cash money from their mobile accounts at all SGC ATMs in Cameroon. No need wasting more time on queues at MTN Mobile Money agencies or cash points.


Service Reactivation

The market also saw the reactivation of a suspended remittance service.

  • Société Générale Cameroun and Emi Money announced the resumption of Western Union sending transactions at all their agencies in Cameroon. This WU outbound service was suspended last year (2Q1026), at the locations of all WU agents and sub-agents in Cameroon.


Market Innovations

In May 2017, the market witnessed an innovation in the Mobile Money segment:

  • MTN Mobile Money announced the performance of payout transactions at Societe Generale Cameroun ATM points. The innovation also follows Orange Cameroun’s launch of its Orange Money Debit Cards which allowed its subscribers to cash money using the debit VISA Card at the ATM points of its partner banks including: BICEC, Afriland First Bank and Ecobank.


Network Expansion

In May 2017, Express Exchange opened 9 new branches in Cameroon:

  • Express Exchange increased its market coverage by opening 9 new branches in several localities in Cameroon. They include: Magba, Bankim, Malantouen, Babadjou, Ayos, Betare Oya, Akonolinga, Eseka and Nanga Eboko. As a result, Express Exchange counts close to 320 active branches in Cameroon.


Some Illustrative Pictures


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