July 15th 2019 (Nyamilepedia) – South Sudan’s Zain telecommunication company has launched its first mobile banking system in the country.
The program known as m-Gurush is designed to store money in mobile accounts.
According to the company, the latest development in South Sudan’s telecom system will enable citizens to transfer money right from their phones to m-Gurush agents expected to begin operations in the country very soon.
Derived from the Arabic and English languages, m-Gurush are two entities separated by hyphenation. The “m” symbolizes “money” while the “Gurush” is an Arabic term for money.
The mobile money transfer platform was launched on Sunday at the Nyakuron Cultural Center in the capital Juba and was attended by government officials, representatives of NGOs and thousands of jubilant celebrants who took part in a large number to watch the launch of this cutting edge technology introduced in the world’s youngest nation.
Through this state-of-the-art initiative, the company said that it will be able to offer a customer-based money wallet that would allow customers to pay goods and services as well as deposits and withdrawals.
The new mobile banking system aims to shape the lives of citizens by providing home remittance services with ease.
It’s also expected to operate in parallel with Kenya’s leading mobile banking system, known as M-Pesa, which is already operating in the country.