Gozem, the Francophone Africa-focused app known for its transport and e-commerce services, has launched Gozem Money, a new mobile money platform designed to deepen financial inclusion and promote digital payments in Togo.
The service was developed in partnership with NSIA Bank Togo, part of the banking division of NSIA Group, one of West Africa’s leading financial institutions.
With this launch, Gozem aims to make financial services more accessible to millions of Togolese users, especially those underserved by traditional banks.
“We are proud to offer a solution that combines technology, simplicity, and social impact,” said Jean Sylvestre Nango, Managing Director of Gozem Money Togo. “ Gozem Money reflects our ambition to transform the sector and actively contribute to sustainable financial inclusion.”
What You Should Know
Through Gozem Money, the startup says users can top up their wallets, transfer funds across operators, and make purchases on compatible platforms.
The solution is fully interoperable with all existing mobile money operators in Togo, a key differentiator in a market where cross-platform transactions have often been cumbersome.
The company has also announced that withdrawal fees are five times lower than the market average, positioning Gozem Money as one of the most affordable mobile money services in the country.
Market analysts say this pricing strategy could disrupt the market and drive price competition among dominant players.
A Broader Vision for Francophone Africa
The launch follows Gozem’s 2023 acquisition of Moneex, a Beninese fintech specialising in electronic payments, signalling the company’s long-term interest in digital finance. Building on this foundation, Gozem plans to roll out its financial services in other key markets, including Benin, Gabon, and Cameroon, where it already operates.
Since launching in 2018, Gozem has grown into a leading super app in Francophone Africa, offering a mix of transport, logistics, and financial services. The company claims to have completed over 20 million rides across 16 cities, underscoring its strong regional presence and user base.
With Gozem Money, the startup is positioning itself not just as a mobility or delivery platform, but as a catalyst for financial inclusion, helping everyday users, drivers, and merchants transition into the digital economy.
What This Means
Gozem’s decision to debut its financial arm in Togo is far from random. The West African country has seen rapid growth in mobile money adoption, fuelled by an increasingly digital economy and supportive regulatory policies.
According to the Central Bank of West African States (BCEAO), the total value of Togo’s mobile money transactions in the first quarter of 2024 surged by 3% to $1.54 billion, compared to the previous quarter.
Mobile money penetration now stands at 39% among the country’s 8 million residents, with over 57% of active users making digital payments regularly.
“With our expertise and nationwide presence, we are driving the country’s digital transformation and supporting the emergence of a more inclusive economy,” added Max-Ange Didier Djecketh, Managing Director of NSIA Bank Togo.
Challenging an Established Market
Gozem is entering a highly competitive space dominated by telecom-backed mobile money services, including TMoney, operated by Yas, and Moov Africa’s Flooz Wallet.
Gozem Money’s entry could reshape pricing dynamics, but experts say achieving scale will hinge on the platform’s agent-network density and ability to win customer trust.
The company says it is banking on its super app ecosystem, which already integrates ride-hailing, delivery, and commerce services to attract and retain users.
According to industry leaders, as Togo continues to embrace mobile finance, Gozem’s new offering could mark a significant step towards expanding access to affordable, digital-first financial solutions.
By leveraging NSIA Bank’s financial infrastructure and Gozem’s technology-driven ecosystem, observers say the partnership may well serve as a model for how African startups can collaborate with traditional banks to bridge the financial inclusion gap.
Talking Points
Gozem’s entry into Togo’s mobile money space through Gozem Money marks a bold step in expanding digital financial inclusion across Francophone Africa.
Launching in partnership with NSIA Bank Togo gives the platform credibility and access to robust financial infrastructure, a smart move for a tech-driven company entering a tightly regulated sector.
At Techparley, we see this partnership as a strategic model for collaboration between fintech innovators and traditional banks, especially in emerging markets where trust and compliance are key.
However, success will depend on how quickly Gozem can build a strong agent network and local partnerships to scale adoption beyond urban centres. User onboarding, customer education, and agent support will determine how effectively Gozem Money can penetrate existing telecom-led markets.
With its growing ecosystem that already spans transport, e-commerce, and logistics, Gozem is positioning itself as more than just a mobility app, it’s evolving into a super platform for inclusive growth in Francophone Africa.
