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Bharti banking on bigger Airtel Money rollout

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Telecommunications services provider Bharti Airtel has entered into a partnership with Ecobank Transnational Incorporated to deliver Airtel Money across nine African countries where Airtel also has operations.

Manoj Kohli, MD & CEO of Bharti Airtel (International) (image: PRAKASH SINGH/AFP)
Manoj Kohli, MD & CEO of Bharti Airtel (International) (image: PRAKASH SINGH/AFP)

The agreement will enable millions of Airtel and Ecobank customers across Africa access secure, convenient and instant mobile financial services.

The partnership between Airtel and Ecobank is already effective in seven African countries, namely Burkina Faso, Chad, Democratic Republic of Congo, Ghana, Niger, Zambia and Kenya. Airtel Money will also be rolled out in Gabon and Sierra Leone later this month.

The partnership enables Airtel customers conduct a variety of mobile transactions. This offering which is subject to regulatory approval in each market, enables Airtel Money deposits and withdrawals at any Ecobank branch, utility bill payments and two-way money transfers between Airtel Money and Ecobank. Customers will also be able to view their bank account balances and statements in real time via Airtel Money.

“Ecobank is committed to bringing financial services to all Africans including the unbanked and under-banked through collaboration with major partner-Telcos like Airtel,” said Patrick Akinwuntan, Ecobank’s Group Executive Director, Domestic Bank.

“All that is required to enjoy this service is an Ecobank account and an Airtel line registered on Airtel Money in markets where regulatory approvals are in place”.

Akinwuntan commented further that the partnership’s extensive reach affords customer convenience, particularly for cross-border transactions and remittances across Africa.  “

Chidi Okpala, the Director of Airtel Money 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.”

He added: “At Airtel, we will continue to offer locally relevant M-Commerce solutions with more partners like Ecobank in order to enhance the daily lives of our customers.”

Staff writer

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