Airtel Africa,
a leading global telecommunications services provider with operations in 14 countries across Africa and
Ecobank Transnational Incorporated,
the parent company of Ecobank, a
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.
In a press statement by Apo Group, made available to OpenLife, the 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.”
About Author
