The Nation Newspaper

Tag: Glo Xchange

  • Glo Xchange agents begin operations

    Globacom has announced its readiness to roll out the first set of market-ready agents for its mobile money service, Glo Xchange.

    This new development follows the  launch last year of Glo Xchange, which is Nigeria’s first mobile money super-agent network in the country. It was followed by a training for thousands of the agents in over 30 states in the country.

    The company said in a statement in Lagos that no fewer than 10,000 proficient Glo Xchange agents would be added to its super-agency network in the next 12 months to deliver the much-expected mobile money revolution in Nigeria.

    The Glo Xchange Agents, Globacom explained, would operate from designated mobile money outlets, such as kiosks, shops, pharmacies, supermarkets and mega stores in strategic locations.

    These outlets will complement the over 160 Gloworld and Glozone shops, which are offering Glo Xchange services to customers along with branches of all Globacom’s mobile money partners, such as First Bank, Ecobank, Stanbic IBTC Bank and Zenith Bank.

    Head, Mobile Money Financial Business in Globacom, Mr. Esaie Diei, said Glo Xchange was introduced to speed up financial inclusion in the country. It added that this will take cashless transactions and e-payments to the grassroots.  With mobile money, he said the mobile phone users could make payments, do transfers, buy airtime, pay bills  for example Dstv, GoTV, PHCN etc, pay expressway tolls and conduct any such financial transactions without cash exchange, but through the mobile phone.

    Diei said the company has also in-built innovative features to enhance security, convenience and effectiveness of the operations.First, the service comes with a dedicated toll-free Agent-Care short number 33003 for quick assistance to Glo Xchange Agents.

    Secondly, a dedicated USSD Short Code, *800#, has been introduced to allow Glo Xchange Agents to access the mobile money services of any Mobile Money Operator (MMO).  There is also an application to inform the end-user of the nearest Glo Xchange Agent location.

    “The customer can have more information by dialling the USSD Short Code *800# free of charge,” Diei added.

    He said robust communication campaign, including TV commercials, TVCs, Radio and market storms nationwide will be part of the activities to create awareness about mobile money services, and educate millions of mobile phone users on the benefits of mobile money service. All businesses which would join the Glo Xchange Network will get the reward of being the pioneer for the mobile money revolution in Nigeria added.

     

  • Ilorin, Aba, Kaduna, others embrace Glo Xchange

    Ilorin, Aba, Kaduna, others embrace Glo Xchange

    More Nigerians  across the country are daily embracing the newly launched mobile money super agent network, Glo Xchange, as the town hall meetings, now concluded, recorded huge turnout of small and medium entrepreneurs (SMEs).

    The agents’ training sessions which were held in Aba, Kaduna, Ilorin, Osogbo and Akure saw Nigerians in their hundreds at the venues where Glo and partner banks enlightened the public and prospective agents on the basic principles of the Glo Xchange agent network.

    Speaking during the training sessions , the Mobile Money Specialists described Glo Xchange as a very safe business, a quick and easy way of making money with minimal risk.

    Addressing the participants in Osogbo, Mobile Money representative, Alex Muia  stated that  Glo Xchange, in collaboration with Mobile Money Operators, is a reliable and convenient platform for sending or receiving money and  paying for goods and services,  using their mobile phones.

    He informed the participants that Glo Xchange agents have the opportunity of making up to fifty thousand naira initial profit monthly,  adding that  this will increase as more people use the platform for transfers, He added that as the business grows, agents will graduate to the level of recruiting other agents, sub dealers and dealers.

    In Ilorin and Aba, the mobile Money Specialists  James Kogie and Basil Mutisya  harped on the importance of Glo Xchange to Nigerians in their daily business transactions.

    They described Glo Xchange as a Mobile Money agent Network aimed at accelerating mobile money revolution and financial inclusion in Nigeria.

    According to the two Specialists, Mobile money agents will get commission on every transaction in addition to attracting clients to purchase other merchandising items in their shops as well as carrying out transfer of money anytime of the day and throughout the week.

  • Glo Xchange ready for take-off

    Glo Xchange ready for take-off

    The last batch of training sessions for prospective Glo Xchange agents held over the weekend was attended by enthusiastic prospective agents who thronged the town hall meetings in Sokoto, Katsina, Ekiti and Ebonyi states.

    Major telecoms service provider, Globacom, rounded off  its town hall trainings and  recruitment of over  2000 small scale traders and operators of  Small and Medium Scale Enterprises (SMEs) as last mile agents of the mobile money services .

    The town hall meetings featured capacity building lectures on how to function as Glo Xchange mobile money agents, mode of operation and how the agents could start the business in their locality.

    Participants commended the Glo Xchange network designed to bring mobile money services to the end users, especially unbanked Nigerians, describing it as a veritable platform to tackle unemployment.

    Olaigbe Temitope of M5 Direct Limited who spoke from the Ado-Ekiti centre of the town hall meetings said the project was good for Nigeria’s cashless policy as it would make business transaction much easier while Ogunsakin Ganiyu of Lemissco Communications  Iyin Road, Basiri, Ado-Ekiti opined that the Glo Xchange scheme would simplify money transfer.

    From Sokoto , Alhaji Abdul Malik of Sokoto South Local Government Area said: “With Glo Xchange the issue of filling bank tellers and several kilometres’ trip to banks from our various villages will become a thing of the past.”

  • Glo Xchange agents expand across country

    Glo Xchange agents expand across country

    The number of mobile money agents around the country has continued to swell as the Glo Xchange train moved to in Imo, Benue, Niger, Plateau and Kogi over the weekend.

    In the new locations, participants joined their fellow countrymen in other parts of the country to eulogize the benefits of the mobile money super agent network. About 1,500 potential agents gathered in Owerri, Markurdi, Minna, Jos and Lokoja to receive orientation and information on the technical details of the Glo Xchange Network.  They included Glo trade partners, sub-dealers, retailers, pharmacists, entrepreneurs, supermarket operators, salon operators, photographers, fast-food operators, Commercial Telephone Operators and other Small and Medium Scale business operators.

    To deepen the penetration of Glo Xchange in the country, the company is partnering some key players in the financial institutions including First Monie, Ecobank, StanbicIBTC Bank and Zenith Bank.  The company said that more banks would join the partnership in line with the Central Bank of Nigeria regulations. At the programme, Glo mobile money experts gave orientation to the attendees as they were eager to know more about mobile money and how to operate the Glo Xchange network business.  They also gave the participants the opportunity to ask questions for further clarifications, after which they signed up as Glo Xchange Agents.   Speaking after the training at the Owerri Centre, Njoku Chinelo from Irete said the project was a “nice one from Globacom, and will greatly enhance business growth”.

    Ogbonna Chioffor and Peter Ike spoke in the same vein. Chioffor  called it a wonderful and  encouraging opportunity created by Globacom “…which will facilitate convenience of monetary transactions and avoidance of bank stress, delay and risk”.ý Ike said it was “pure empowerment of people by Globacom whereby one can start a business with funds as little as N10, 000”. Abichi Okeke from Makurdi welcomed the programme from Globacom and said that it will profitably engage more Nigerian jobless youths John Iorpuu from Afia Town, Ukun LGA in Benue state hailed Glo Xchange as another first from Globacom, adding that “ýit will ease and make monetary transaction more convenient than ever.”  James Pilaakya from Korina, Konshisha LGA Benue state said it is an impressive grassroots-oriented platform by Globacom, saying that it will make rural financial transaction possible where there are no banks. The attendees also said Glo Xchange will facilitate financial transaction to the remote areas where there is no financial institution.

    A statement from the Head of Mobile Money Financial Business, Globacom, Mr. Esaie Diei said Globacom would continue to empower Nigerians economically while also encouraging the federal government’s financial policies of financial inclusion and cashless

     

     

    The training sessions have so far held in over 20 cities including, Lekki, Ikeja, Ibadan, Kaduna, Umuahia, Akure, Ilorin, Oshogbo, Onitsha, Enugu, Port Harcourt and Warri. Others are Kano, Abuja, Benin and Abeokuta

     

  • 200 register as Glo Xchange agents in Abeokuta

    200 register as Glo Xchange agents in Abeokuta

    Over 200 Nigerians at the weekend thronged the Town Hall meeting and training organised for prospective sales agents for Nigeria’s first super mobile money network, the Glo Xchange at the Spices Event Centre, Abeokuta, Ogun State.

    Addressing participants, Globacom’s Mobile Money Expert, Mr. Tim Mukata, described the Glo Xchange agentship as a veritable avenue for business minded Nigerians to make money on every transaction without losing their initial deposits.

    “Being a Glo Xchange agent is a win-win situation for agents as the floating capital remains the same at any point in time. The agents will get commissions on every transaction, attract clients to purchase other merchandising items in their shops and carry out transfer of money anytime of the day, seven days a week. It is very safe and easy and I implore Nigerians from all parts of the country to join the train,” Mr. Mukata said.

    He informed the participants that a Glo Xchange agent can make up to a monthly profit of fifty thousand naira initially and increase it as more people transfer money through the platform. He said the agent can graduate to the level of recruiting agents, sub dealers and dealers.

    Mr Mukata who said Globacom was facilitating the network in partnership with Ecobank, Stanbic IBTC, Firstmonie and Zenith Bank, noted that the Glo Xchange network would form the foundation for agency banking in Nigeria in the nearest future.

    Since Glo Xchange was launched three weeks ago, thousands of Nigerians have registered as agents of the country’s first super mobile money agent network.

    Commenting on the training, the representative of the Ogun State League of Cooperative Thrift and Credit Societies which has over one hundred thousand branches, Mr. Kunle Akingbogun commended the initiative and urged Globacom to extend the partnership to Skye Bank for their members to benefit from the scheme.

    In a related development, a prospective sales agent Prince Jaiye Adeleke who recently retired from Union Bank said the agentship would be a continuation of his relationship with people in the last thirty years of his banking experience.

    He praised the Management of Globacom for always coming up with innovative products and services, describing the Glo Xchange platform as a means of empowering people and combating the unemployment scourge in the country. He said he had always been a Globacom customer and would always be a Glo subscriber.

  • ‘Glo Xchange will empower Nigerians’

    ‘Glo Xchange will empower Nigerians’

    Agents of Globacom’s  mobile money agent network, Glo Xchange, have commended the telco for the platform which is aimed at deepening financial inclusion and promoting electronic payment system.

    The agents spoke at the various town hall meetings in Ibadan, Benin, Abuja, Port Harcourt, Ikeja and  Lekki in Lagos over the weekend.

    CEO, Real Imagination Limited, Mr. Raphael Arokoyo, who attended the Ikeja, Lagos meeting, said: “This is a good means of economic empowerment for Nigerians

    “There is no business without its teething issues.  When ATM started, it was difficult to accept.  But today, it is taking shape. With the strength of Glo and all its partners, the mobile wallet will be a good venture. It does not require start-up capital as Glo’s supports us to brand our shops.”

    Another prospective agent, Mrs. Eucharia Ajaegbu, who is a provision store operator in Ojo-Alaba, Lagos, said Glo Xchange was a welcome development that “will make business transactions very easy. It will improve the earnings of small business people. I love it, and I hope it goes well,” she said.

  • Rewane, Teriba praise Glo Xchange

    Rewane, Teriba praise Glo Xchange

    Nigeria’s economists Dr. Ayo Teriba and Bismarck Rewane, have commended the introduction of a massive, nationwide, collaborative mobile money agent network in the country by Globacom in partnership with licenced mobile money operators.

    Glo Xchange, described by the Central Bank of Nigeria as Nigeria (CBN’s) biggest mobile money super agent network, was launched by Globacom in partnership with FirstMonie, Stanbic IBTC, Ecobank and Zenith Bank, the telco said in a statement.

    Dr. Teriba who is Chief Executive Officer, Economic Associates spoke during the launch of the platform noted that while Mobile Money service has been in Nigeria for over three years, it has failed to grow as expected because of certain reasons, including lack of an efficient and expansive agent network. This lack of a viable and massive agent network has therefore limited its benefits to the economy, especially in terms of job creation.

    “Usually for such a service as mobile money, the bigger the network, the higher the chances of an explosion, and by extension, the bigger the benefits accruable to all the stakeholders, from the banks down to the customers,” he said. He added that Glo Xchange, with the nationwide network of agents as unveiled by Globacom, is just the ingredient the industry has been waiting for.

    Globacom is currently building a nationwide network for Glo Xchange which consists of 150 Gloworld and Glozone outlets, over 35,000 Glo dealer and sub-dealer outlets, 450 Conoil Stations and over 7000 outlets of the members of the Association of Community Pharmacy of Nigeria, in addition to all the branches of the partner banks or mobile money operators.

    Dr Teriba noted that the potential for growth for the initiative is immense as the platform is open to other banks to plug into. He implored Nigerians looking for employment opportunities to see the avenues created by the initiative and utilise them for self-enhancement.

    Mr. Rewane, Chief Executive Officer of Financial Derivatives Company Limited, who also spoke during the launch of the initiative, said it is consistent with the CBN’s policy thrust of developing and sustaining an efficient payment system that will drive an increase in the velocity of money and consequently, stimulate economic growth.

    He described Nigeria as a mineral-rich and commodity-dependent economy with a nominal GDP of $510billion. According to him, it is 12 times the size of Kenya’s economy which has profited massively from mobile money service. He said Nigeria is the largest economy in Africa and 26th largest in the world.

    Rewane said, however, that the economy is largely cash-based, a situation which he said constitutes a barrier to rapid growth. He said therefore that, initiatives such as Glo Xchange that help to enhance the cashless policy of the CBN, or that help to improve the velocity of money is bound to have a resounding positive impact on economic growth.