Standards/tmoney
TMoney
Overview
TMoney is Togo's dominant mobile-money platform, operated by Togocom (now Yas Togo) — with 61% Togolese mobile-money market share and 2.16+ million users (Q1 2024) [1, 2, [tg-cro]]. TMoney leads Togo's mobile-money duopoly versus Flooz (Moov Africa Togo, 40% / 1.4M users). As of March 2024, Togo had 7.3 million mobile users + 3.55 million mobile-money users total — high mobile-money penetration relative to population (~8M).
Major 2025 structural development: Togocom separated mobile-money services into new entity TMoney S.A. — established April 2025 with CFA 1 billion share capital + registered as financial company focusing on money transfers + e-money services. This separation reflects the broader MNO-mobile-money-as-standalone-fintech-entity pattern (Airtel Money IPO H1 2026, MTN MoMo separated subsidiary) — positioning TMoney for independent strategic + regulatory + investment relationships beyond Togocom's MNO operations.
Competitive landscape: Gozem (Francophone Africa-focused super-app) launched Gozem Money in Togo via NSIA Bank Togo partnership — adding fintech competition. Orabank × Togocom offline mobile-money transfer service illustrates Togolese bank-MNO collaboration. BCEAO (West African Central Bank) regulates Togolese payment infrastructure within WAEMU CFA franc framework.
History
Background — Togolese payment landscape TG:
- BCEAO — West African Central Bank.
- Togo part of WAEMU/UEMOA monetary union.
- Major Togolese MNOs: Togocom (now Yas), Moov Africa Togo.
TMoney launch by Togocom [1]:
- Pan-Togolese mobile-money platform.
Togolese mobile-money duopoly: TMoney + Flooz [1].
Mar 2024 — 3.55M total MM users; TMoney 2.16M (61%) [3]:
- High mobile-money penetration.
Togocom × Orabank offline mobile-money transfer [orabank-tg]:
- Bank-MNO collaboration.
April 2025 — Togocom creates TMoney S.A. as separate entity [1]:
- CFA 1B share capital.
- Registered financial company.
Gozem Money competition [gozem-tg]:
- Francophone-Africa-focused super-app entry.
Technical specification
TMoney is Togocom/Yas-operated Togolese mobile money with separated fintech entity [1, 2]:
| Layer | Description |
|---|---|
| Operator | TMoney S.A. (separated April 2025 from Togocom/Yas) |
| Currency | XOF (West African CFA franc) |
| Channels | USSD, Mixx Togo (TMoney) app |
| Active users (2024) | 2.16+ million (61% TG market share) |
| TG total MM users (2024) | 3.55 million |
| Major competitor | Flooz (Moov Africa Togo, 40%) |
| Regulator | BCEAO (WAEMU framework) |
| Bank partner | Orabank (offline transfer) |
| Share capital | CFA 1 billion |
Use cases
P2P transfers [1]: Cardinal use.
Merchant payments [1]: Togolese commerce.
Bill payment TG: Utilities + services.
Airtime + data top-ups [1]: Yas/Togocom mobile services.
Offline transfers (via Orabank partnership) [orabank-tg]: Connectivity-resilient.
Cross-border via WAEMU framework TG: BCEAO-coordinated CFA franc.
Implementations & ecosystem
Operator: TMoney S.A. (subsidiary of Yas Togo / Togocom).
Regulator: BCEAO.
Bank partner: Orabank.
Major TG competitors: Flooz (Moov Africa Togo), Gozem Money (via NSIA Bank).
Fun facts
- 2.16M TMoney users / 61% market share (Q1 2024): Substantial dominance.
- April 2025 separate-entity creation: Strategic fintech separation.
- CFA 1B share capital: Substantial founding capital.
- TMoney + Flooz Togolese duopoly: Two-MNO mobile-money market.
- 3.55M total MM users in 7.3M mobile-user population: ~50% mobile-money penetration of mobile users.
- Orabank offline-transfer partnership: Connectivity-resilient design.
- Yas rebrand: Togocom → Yas Togo.
- Gozem Money + NSIA Bank super-app competition: Multi-fintech entry.
Comparison
| Feature | TMoney (TG) | Flooz (TG) | orange-money-qr (multi-Africa) | wave-qr (WAEMU) | Gozem Money (TG) |
|---|---|---|---|---|---|
| Operator | TMoney S.A. (Yas/Togocom subsidiary) | Moov Africa Togo (Maroc Telecom group) | Orange Group | Wave (independent) | Gozem + NSIA Bank |
| Type | MNO mobile money (dominant TG) | MNO mobile money | MNO mobile money | Independent fintech | Super-app + bank |
| Users (2024) | 2.16M (61% TG) | 1.4M (40% TG) | 40M (group) | 10M+ | New entrant |
| Separation | April 2025 → TMoney S.A. | n/a | n/a | n/a | n/a |
Status
Active, dominant + recently spun-off [1, 2, 3]:
- TMoney S.A. operator since April 2025.
- 61% TG mobile-money market share / 2.16M users (Q1 2024).
- Yas Togo / Togocom subsidiary.
- Competitive landscape with Flooz + emerging Gozem Money.
Sources
- 1 Togocom TMoney subsidiary — Togo First
- 2 Togocom TMoney subsidiary — Telecompaper
- 3 TG mobile + MM users — Togo First
- orabank-tg Togocom × Orabank — Togo First
- gozem-tg Gozem Money TG launch — TechCabal
- [tg-cro]
reports/countries/TG-togo.md
Deployments
Found in the following country reports (grep across reports/countries/):
- TG — TG-togo.md