According to GSMA, 2020 was another record-breaking year for African mobile money operators, with sub-Saharan Africa reaching the 548m registered account mark. Well aware of the value of this sector, telecom operators are gradually spinning off their mobile money businesses, with Airtel Money and MTN Mobile Money fetching record valuations of $2.65bn and over $5bn, respectively. Leading mobile money providers now seem determined to collaborate with banks and insurance companies as the latter run into difficulties with their financial inclusion strategies. What form might this coopetition take?
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