Francophone Africa’s super app, Gozem, has officially launched Gozem Money in Togo, introducing a new digital financial service designed to expand access to affordable mobile transactions. The rollout, conducted in partnership with NSIA Bank Togo, aims to make digital payments more inclusive and efficient across the country. This launch marks Gozem’s entry into the fintech space, reinforcing its ambition to become an all-in-one digital ecosystem for mobility, commerce, and finance.
A Strategic Partnership with NSIA Bank
Gozem’s collaboration with NSIA Bank Togo, a subsidiary of the NSIA Group’s banking division, underpins the new service’s operational backbone and regulatory compliance. The partnership allows users to perform deposits, transfers, and payments directly through the Gozem app, all while benefiting from low transaction fees. Max-Ange Didier Djecketh, Managing Director of NSIA Bank Togo, stated that the initiative reflects the bank’s commitment to supporting Togo’s digital transformation and inclusive economic growth.
Accessible and Affordable Financial Services
Gozem Money promises to make financial services more accessible to both urban and rural populations through its affordable pricing model. The platform offers free deposits, transfers, and payments, while withdrawals incur a flat 1% fee—up to five times lower than the national market average. By minimizing transaction costs, Gozem hopes to attract both unbanked and underbanked users who have traditionally been excluded from digital finance.
A Growing Market for Digital Payments
The timing of this launch aligns with Togo’s rapidly expanding digital finance ecosystem. According to recent data, the total value of mobile money transactions in Togo rose 3% in the first quarter of 2024, reaching $1.54 billion. Despite the country’s population of roughly 8 million, mobile money penetration stands at 39%, with more than half of these users actively engaging in digital payments—a strong signal of market readiness for innovation.
Breaking into a Competitive Sector
Gozem Money enters a market dominated by two major telecom-backed services: TMoney, operated by Yas (formerly Togocom), which controls about 60% of the market, and Flooz, owned by Moov Africa, holding the remaining 40%. To differentiate itself, Gozem is leveraging its super app model, integrating transportation, e-commerce, and now mobile finance. Its strategy hinges on offering interoperability across all mobile money operators in Togo, ensuring seamless transfers regardless of network.
Leadership Vision and Expansion Plans
Jean Sylvestre Nango, Managing Director of Gozem Money Togo, emphasized the company’s broader mission to combine technology, simplicity, and social impact. He highlighted that Gozem Money is a natural evolution of Gozem’s ecosystem, aiming to enhance the lives of its users while promoting sustainable financial inclusion. The company intends to expand Gozem Money to other countries where it already operates, including Benin, Gabon, and Cameroon, further strengthening its regional fintech footprint.
Building on Past Acquisitions
The launch also builds on Gozem’s 2023 acquisition of Moneex, a Beninese electronic payments startup that enhanced Gozem’s fintech capabilities. This earlier move laid the foundation for the development of Gozem Money’s digital wallet and interoperability systems. By integrating Moneex’s infrastructure and expertise, Gozem has accelerated its entry into the mobile money market with a ready-to-scale solution.
With Gozem Money, the Togolese market gains a new player promising lower fees, broader accessibility, and seamless interoperability across platforms. The partnership with NSIA Bank Togo strengthens Gozem’s credibility in the financial services space, positioning it as a viable alternative to established telecom operators. As the startup continues to expand its fintech offering across West and Central Africa, Gozem’s vision of becoming the region’s leading super app appears one step closer to reality.