According to Yoma, Wave Money now serves 1.3 million customers, or 2.5% of Myanmar’s population. Over 80% of the population currently remains unbanked, the group said.
SINGAPORE (Mar 7): OCBC Investment Research says it is “broadly positive” on Yoma Strategic Holdings’ foray into mobile financial services in Myanmar.
To recap, Yoma announced Tuesday that it is acquiring a 34% stake in Digital Wave Money Myanmar Co. – the first licensed provider to offer simple and reliable mobile financial services to consumers in the country – for US$19.4 million ($25.6 million).
