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ARTICLE · 28 SEPTEMBER 2026

Telcos, Wallets And Regulation

As telecommunications companies in Africa explore banking licences and payment platforms begin offering credit alongside debit services, the traditional boundaries separating banks from non-bank entities are dissolving. When does a mobile money platform cross the threshold into banking territory, and how should regulators respond when the customer journey becomes simpler but the underlying legal architecture grows more complex?

South AfricaFinance and Banking

The boundaries of financial services are becoming harder to draw. A bank no longer always looks like a bank. A telecommunications company no longer only provides calls and connectivity. Increasingly, the same platform that connects a customer to a mobile network may also allow that customer to store value, make payments, access credit and transact across borders.

That shift is especially visible in Africa, where mobile money has changed how millions interact with financial services. Reuters recently reported that MTN Group is exploring banking licences in selected African markets to expand lending from its own balance sheet. MTN’s CEO, Ralph Mupita, linked that possibility to markets with large customer bases and significant wallet balances, while indicating that MTN would not abandon existing banking partnerships.

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