MyNITA is a money transfer application developed in Niger to facilitate payments to NITA customers in several counties within the West African Economic and Monetary Union (WAEMU) region.
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WAEMU’s member states are:
- Benin
- Burkina Faso
- Côte d’Ivoire
- Guinea-Bissau
- Mali
- Niger
- Senegal
- Togo
The CFA Franc, which is pegged to the Euro, is shared by all member states, and this is governed by the Central Bank of West African States (BCEAO).
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The wider WAEMU region has a low financial inclusion rate with only 24.3% of adults in the region having bank accounts as per 2022 data. This is the opportunity for a mobile financial services application like MyNita.
Developed by Niger Transfert d’Argent (NITA), MyNITA is available as a mobile app (available on all Android and iOS smartphones), allowing customers to send money across the entire NITA network.
MyNita offers an all-in- one platform that allows:
- Money Transfer: A user sends money to a third party without an account, who will go to an agency to withdraw the money
- Account-to-Account Transfer: A sum of money is transferred from one user to another
- Agency Search: Find the nearest agency
- Fee Calculation: Calculate the transfer fees from city A to city B
- Payments (NIGELEC now available): Payment for bills (NIGELEC), fuel (ORIBA SIEGE), salaries, etc.
The platform includes a mobile app available on both iOS and Android, with more than 100,000 downloads on the Play Store.
To create an account, users must provide their personal details, a key requirement since the app was certified as compliant with the Central Bank of West African States (BCEAO) regulations in May 2024.
In addition to the aforementioned services, users can send funds either to another MyNita user or to individuals without an account. Those without the app can retrieve the funds at a NITA agency by providing the transaction reference number.
The app’s dashboard enables users to monitor all their transactions, providing complete visibility into their digital wallet activities. Transfer fees differ depending on the country and city, and the app offers access to a directory of Nita agencies within the region.
Founded in 2017, the company is headquartered in Niamey, Niger, and is led by CEO, Mahatan Cheferou.
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