The MTN Group announced last week that its increasingly popular MTN Mobile Money service will now be available through its extensive MTN agent network and Banc ABC branch network in Zambia, further improving access to financial services via the convenience of mobile telephony for thousands of Zambians.
The announcement last week in Lusaka follows the issuance of a full commercial Mobile Money license to MTN Zambia by the Bank of Zambia in January this year, after a successful pilot project which has netted over 170,000 MTN Mobile Money customers since the pilot began in July last year. In the same period, MTN Zambia acquired an enthusiastic network of 340 MTN Mobile Money agents across the country and continues to focus on convenient accessibility.
In terms of the strategic partnership with Banc ABC, MTN customers will be able to load and withdraw money from their mobile phones using MTN Service Centres, MTN agents, Connect Stores and the Banc ABC branch network.
“The phenomenal uptake of Mobile Money in Zambia is a clear indication that an increasing number of Zambians are excited to finally have the ability to conduct financial transactions through their mobile phones. As MTN, we are equally excited to be able to give them that ability, and the convenience that comes with it,” says Christian de Faria, Group Commercial Officer for the MTN Group.
MTN Mobile Money creates a safe environment for the banked and unbanked portion of the population to perform basic banking transactions. In some of the markets where the service is offered, customers are now able to pay their utility bills, amongst other transactions, using MTN Mobile Money. MTN has successfully deployed its MTN Mobile Money service in 11 other markets, including Uganda, Swaziland, Ghana, Cote d’Ivoire, Cameroon and Rwanda.
De Faria adds that “similarly, the launch of MTN Mobile Money in Zambia is opening up plenty of exciting opportunities in terms of financial services inclusivity. For us, MTN Mobile Money is integral to our efforts to increase accessibility to financial services for people in our markets.”
“The agreement with Banc ABC also confirms our commitment to continue exploring innovative ways to make our products as accessible as possible within the Zambian market”, he added.
The launch of the MTN Mobile Money service with Banc ABC will enable MTN subscribers to open a mobile money account at any of the bank’s 19 branches and 10 mobile banks across Zambia. Subscribers will upon registration be able to load and store electronic money on their mobile phones and use their mobile number as an account number.
“The unique feature of MTN Mobile Money is that customers can send money to any cellphone user on MTN or other networks. This joint partnership with Banc ABC as an MTN Mobile Money agent will assist greatly in agent liquidity and providing cash in and cash out services for our customers,” says Abdul Ismail, Chief Executive Officer of MTN Zambia.
MTN Mobile Money is currently being utilised by over 6 million customers across the MTN footprint with over 2 million of those users in Uganda.