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Airtel Africa Plc has announced an expansion of its fintech business courtesy of a partnership with the Standard Chartered Bank. The aim of the partnership is to enable the telecoms operator to deepen its financial inclusion drive across its key markets.
In a corporate disclosure signed by the Company Secretary, Simon O’Hara, it was noted that the partnership will enable Airtel to provide increased access to mobile money services to customers.
“Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services and, ultimately, better serve people across Africa. In line with this, Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services,”
The statement further noted that the partnership would enable Airtel to expand the range and debt if its fintech business arm –Airtel Money. Launch new products and services targeted primarily at Airtel’s 19 million customer base and encourage the adoption of mobile money whilst engendering the financial inclusion goal of the CBN.
The Chief Executive Officer of Airtel Africa Plc, Raghunath Mandava, commented on the partnership with Standard Chartered Bank saying:
“Our relationship with Standard Chartered boosts financial inclusion across the continent, giving millions of people access to valuable banking services. We continue to invest heavily in cashing in and cashing out locations for our customers and increase our distribution. This means that our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash-out their funds at our exclusive kiosks and branches at their convenience. This highlights Airtel Africa’s commitment to providing affordable, innovative, best-in-class solutions to enhance the daily lives of our customers.”
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