This  provided  the  supportive regulatory environment for mobile money services kick started partnerships between banks and non3  bank entities including telecommunication companies to set up subsidiaries to offer mobile money services and deliver innovative financial products and services. 5.
The objective was to leverage on the prevailing high mobile phone penetration to deliver affordable financial services to the growing financially excluded segment of the population. These regulatory interventions incentivised telecommunication companies to partner banks in the provision of innovative products, culminating in increased uptake of mobile money services.