| Mobile Money and Telcos |    1356 VIEWS  |
| Mobile Money and Telcos | |
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Monday, October 21, 2019 / 03:05 PM / By Airtel Africa Plc / Header Image Credit: techcabal, DinoSoftLabs
We are
pleased to inform you that Airtel
Africa, a leading global telecommunications services provider with
operations in 14 countries across Africa, and Ecobank Transnational
Incorporated ("ETI"), the parent company of Ecobank the leading
pan-African banking group operating in 33 countries, have signed a partnership
which will allows millions of Airtel Money and Ecobank customers across Africa
to improve their access to mobile financial services and carry out a variety of
mobile transactions
This partnership, which is
subject to regulatory approval in each market, will enable Airtel Money
customers, through Ecobank's digital financial services ecosystem, make online
deposits and withdrawals, effect real time domestic and international money
transfers, make in-store merchant payments, and access loans and savings
products amongst others.
The partnership will also
allow Ecobank corporate account holders to make bulk disbursements, such as
payroll payments, directly into Airtel Money customer wallets. Additionally,
Ecobank will be able to sponsor Airtel Money to issue both virtual and physical
debit and pre-paid cards to Airtel Money customers.
Raghunath Mandava, CEO for
Airtel Africa, said: "This partnership is a further demonstration of
Airtel Africa's commitment to provide affordable, simple and innovative
solutions for our consumers across Africa. We will continue to offer locally
relevant M-Commerce solutions with partners like Ecobank in order to enhance
the daily lives of our customers."
Ecobank Group CEO, Ade
Ayeyemi, commented: "We believe that financial inclusion can
ultimately contribute to economic development, collaborating with major
telecommunications providers in Africa is therefore a key strategic driver
towards closing the gap between the banked and the underbanked. Hence this
partnership with Airtel Africa which makes Ecobank financial services available
to any Airtel line registered on Airtel Money, in our markets where regulatory
approvals are in place. This potential extensive reach will further provide
convenience to customers, intra-country and particularly for cross-border
transactions and remittances across Africa."
For
further questions and clarifications, please contact Airtel Africa IR Team: investor.relations@africa.airtel.com
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