Gozem Launches Mobile Money in Togo in Partnership with NSIA Bank
TLDR
- Francophone Africa’s leading super app Gozem has launched Gozem Money, a mobile money platform developed in partnership with NSIA Bank Togo
- The new service aims to expand access to affordable digital financial services in Togo, where nearly 40% of adults already use mobile money
- Gozem’s decision to debut in Togo is strategic: the country’s mobile money transaction value rose 3% quarter-on-quarter to $1.54 billion in Q1 2024
Francophone Africa’s leading super app Gozem has launched Gozem Money, a mobile money platform developed in partnership with NSIA Bank Togo, a subsidiary of the Abidjan-based NSIA Group. The new service aims to expand access to affordable digital financial services in Togo, where nearly 40% of adults already use mobile money.
“Gozem Money combines technology, simplicity, and social impact,” said Jean Sylvestre Nango, Managing Director of Gozem Money Togo. “It reflects our ambition to transform the sector and actively contribute to sustainable financial inclusion.”
The platform enables users to top up wallets, transfer funds across operators, and make purchases via an interoperable system compatible with all mobile money operators in Togo. Gozem claims its withdrawal fees are five times lower than standard market rates — a move that could ignite a new wave of price competition in a market dominated by TMoney (Yas, formerly Togocom) and Flooz (Moov Africa).
Gozem’s decision to debut in Togo is strategic: the country’s mobile money transaction value rose 3% quarter-on-quarter to $1.54 billion in Q1 2024, signaling continued digital payments growth. Partner bank NSIA said the collaboration supports Togo’s broader digital transformation agenda.
The launch follows Gozem’s 2023 acquisition of Beninese e-payments startup Moneex, with expansion plans already set for Benin, Gabon, and Cameroon. Since launching in 2018, Gozem has completed over 20 million rides across 16 cities, evolving into a full-service transport, commerce, and fintech ecosystem.
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Key Takeaways
Gozem’s entry into the mobile money space marks a strategic pivot from mobility to financial infrastructure, positioning the company as a potential challenger to telecom-led dominance in Francophone Africa’s payments landscape. By leveraging its super app ecosystem and NSIA’s banking infrastructure, Gozem can integrate payments with transport and delivery services — creating a sticky, multi-use platform. However, distribution scale and agent liquidity will determine competitiveness against incumbents TMoney and Flooz. If successful, Gozem Money could set a new interoperability and pricing benchmark for mobile finance in the UEMOA region, blending fintech agility with institutional trust.
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