Why was the old business model for wiGroup unsuccessful and why has the revised business model worked?

Bevan DuCasse was keen to fi nd a technology-based business opportunity and he realized that Africa was becoming the largest and fastest-growing mobile money market in the world. He therefore thought that anything that built on this opportunity would be a winner and he launched wiWallet in 2007. This was a mobile transaction payment App that linked to credit cards, which DuCasse claims was the fi rst of its kind. However, on its own it proved to be unsuccessful partly because of competition from existing banks and retailers and partly because it was targeting the wrong customers – the App users. At the time, there were very few Apps and there were no App stores.