00:00MTN Nigeria and Airtel control 86% of Nigerian mobile lines.
00:06So why are they struggling to win the mobile money business that is built on top of their infrastructure?
00:12You see, how mobile money works is different in Nigeria.
00:16And that explains why the biggest telco combined together have less than 10 million active wallets.
00:23In other markets, especially in East Africa, Airtel money makes 5 times more revenue in countries like Kenya than they
00:31make in Nigeria.
00:32And that explains why they got it listed for $7 billion on the London Stock Exchange.
00:39Why the Nigerian operation is worth way less than that.
00:44The big difference between the two is lending.
00:47Now, telcos in Nigeria have a license called the Payment Service Bank that allows them to move money.
00:52Not lend it.
00:54And lending is what mobile money is pricing its value on.
00:59Owning the infrastructure for payment is the beginning.
01:02Understanding where the opportunity for higher valuation exists is more important.
01:07Telcos are lending this.
01:09And that explains why, in the case of Airtel money, its East African operation is priced at a $7 billion
01:17valuation listed on the London Stock Exchange compared to Nigeria.
01:23しました.
01:23Since the Attention Group, you might find a company in Australia, but these other ways in the Índia court diferente.
01:25Those are
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