How to Start a MoMo Kiosk Business in Cameroon
At this stage of your life, no
one needs to remind you that the unemployment situation in Cameroon will not
change any time soon. The dream of picking a well-paid white-collar job after
graduating is an illusion.
Though some get these jobs,
they are very few. The majority of graduates tend to drop files from one office
to another with the hope of being called for an interview that never happens.
Many youths have joined the
teaching profession not for the love of it but as a means to survive and meet
up with the demanding economy.
For those who manage to see
something to do, employers are like “Let’s
start with a salary of 30,000 FRS for instance since you have no experience. If
you do well, we will add your salary”.
Instead of struggling to
secure a job for eternity, why not think out of the box of becoming an employer
too? After saving a reasonable amount of money from your job, think of setting
up a small business of your own.
There are many petit
businesses you can think of that requires little or no capital to commence, and
MTN Mobile Money is one of the many
business ideas that can come to mind.
This article will provide all
the necessary information needed for one to set up an MTN MoMo Kiosk Business
in Cameroon.
The process is easy now as
compared to when it was just introduced. To start operating a MoMo kiosk one must
become an agent.
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Who is an MTN MoMo Agent?
An MTN Mobile money agent is a
person who acts as an intermediary between the Mobile Telephone Network Company
and its customers.
They assist customers to send
and receive money (Cash in and Cash out), paying utility bills, selling airtime,
doing callbox, etc.
They make a profit through
commissions on every transaction they carry out and their commission rates vary
per host platform. MTN pays them per percentage of the transaction amount. So,
the huge the amount, the higher the commission.
Things to Consider Before Starting the Business
Planning is very crucial in
every aspect of life. Business is not a field anyone would venture into, without
proper preparation and good strategy to excel in the business.
It is not just about applying for the business sim; there are other important points to take into consideration.
1. You need to arrange a mobile Money container or Kiosk. I do not really know how much it costs but I suppose it is not expensive. You can inquire from a weltering workshop.
In case you do not have money
to make a kiosk, you can purchase an umbrella and a small table. Another way is
to rent a kiosk. Yes, you read that correctly.
Some people put their kiosks
on rent for those who do not have money to do theirs or because of the
strategic position of the kiosk to pay a monthly fee for using the kiosk. Therefore, the choice is yours to make.
2. Secondly, you need a phone. I
am sure my readers are like “are you
being serious right now?” Yes, I am, you will not use your iPhone to work. You
can get a button phone (Choronko) for 5000 FRS.
3. The third, which is the most
crucial, is to locate a strategic position to keep your kiosk. You cannot
position your container or umbrella in any location. Your goal is to do many
transactions as possible because this is what gives you earnings from the commission.
Most kiosks are situated along
the road but that does not mean one cannot do it in the quarter. Be in a spot
where customers can easily locate you. It should be located on a busy street or
public place.
4. How much would I need to start
up this business? Everyone should ponder on this question before commencing.
You can start with a small amount of money but have it in mind that the huge
the capital, the higher the chances of earning more.
Nevertheless, some people
started small and are making it big today. The difficult part is to start, once
you start, progress sets in.
5. Those who wish to venture into
this business but do not have the time to run the place will need a worker to
run the place. Well, you will need to employ someone trustworthy because many
have made away with the money of their employers.
You need to be careful as well
as know the person you are dealing with.
The Requirements Needed to Become an MTN MoMo Agent
The procedure to become a MoMo
agent does not require much effort or documents.
1. Apply for a business Sim. Here is a link to how to become an agent
2. National Identification Card
3. Photocopy
of the ID
4. Tax Payer document. If you
wish to become an agent and do not have a taxpayer document, you can contact this
number + 237 657-791-159 to render the service.
5. Passport-size photo.
How Much Does it Cost to Start a MoMo Kiosk Business in Cameroon?
With as little as 25000 FCFA
or 50000 FCFA, an individual can effectively start a viable mobile money
business in Cameroon.
Depending on future needs and
the propensity to expand, more capital may be required to effectively generate
more money or profit in the long term. Let us say 1 million for instance.
Is mobile money profitable?
Yes, it is, but to make a
reasonable amount of profit, one needs to have heavy ongoing investments in
operational expenditures and a shift away from cash-based transactions to a
mature digital ecosystem.
As earlier mentioned, the huge
the capital, the more earnings.
Concluding Remark
I hope this write-up on how to
start a MoMo Kiosk business in Cameroon helps answer the questions you had.
As Cameroonians, we need to
embrace the reality that there is no white-collar job anywhere waiting for us upon
graduation.
We have to take our future
into our hands, create an opportunity for ourselves, and why not employ others
in the future?
I hope this article makes
sense to you, especially my unemployed colleagues walking around with big
branded phones required to start up a petit business.
Bear in mind that the future
is now, if you do not prepare now, you will work in the so-called future. Work
for it now!!!
Thanks for your time
Also read:
Licenses and permits needed to start up a business in Cameroon
Top 12 Lucrative Businesses to start in Cameroon with Little or no Capital
