QIWI, IFC Metropol to launch instant payment service in Congo
MOSCOW. July 19 (Interfax) - QIWI and IFC Metropol will set up an instant payment service in the Democratic Republic of Congo.
The system will be set up on the basis of Mining Bank of Congo, which Metropol owns, the Russian investment company said in a press release.
QIWI Regional Director Mikhail Kazakov said all the necessary preparations for the project have been carried out and talks are currently being held with providers and locations for the payment terminals are being chosen.
The system will initially be used to accept cash, enabling various bill payments and to survey the population and distribute the lottery. The cash withdrawal option may be added later, the release said.
The QIWI payment system was shown to the Congolese industry minister on Monday in Moscow. He showed great interest in the project and said the government of DR Congo is ready to help implement such initiatives, the release said.
IFC Metropol began working in the DRC at the beginning of 2006 with the aim of setting up a bank with 100% Russian capital.
The Central Bank of Congo allocated a banking license to Metropol in July 2006 and in April 2008 the president of Congo signed a resolution establishing the Mining Bank of Congo. The bank opened in Kinshasa in April 2009.
Qiwi works in Russia and 15 other countries, including Kazakhstan, Bulgaria, Romania, China, Malaysia and South Africa.
Qiwi Ltd. (formerly OE Investments Ltd.), was established in 2007 and includes: QIWI Payment Service (a merger between OSMP and E-port), First Processing Bank, Lotto Integrator, Pay Kiosk, QIWI Koshelek (Mobilniy Koshelek), and QIWI Reklama (Direct Contact).
The company is controlled by a group of managers, led by CEO Andrei Romanenko, who own 63.7%. Qiwi - Mail.ru Group own a 21.35% stake. Mitsui of Japan acquired 14.9% of QIWI IN December 2010 for $96.1 million and valued the entire company at $644 million.
