Airtel Africa Plc (NGX: AIRTELAFR) on Thursday announced that its subsidiary SmartCash Payment Service Bank Limited (‘SmartCash PSB’), has commenced operations in Nigeria.
The telecommunication giant made the announcement in document published on the Nigerian Exchange, seen by Investogist.
Airtel Africa said that “Services will initially be available at selected retail touchpoints, and operations will be expanded gradually across the country over the next few months.”
Investogist had reported that the Central Bank of Nigeria (CBN) has given final approval for SMARTCASH Payment Service Bank Limited to operate as a full Payment Service Bank (PSB).
The license affords the “Group the opportunity to deliver a full suite of mobile money services into Nigeria,” Airtel Africa Plc said while announcing the approval.
Commenting on the commencement of operation, Ogunsanya, Chief Executive Officer, said: “I am very excited to announce our commencement of operations for financial services in Nigeriathrough SmartCash PSB. This is the beginning of our journey to revolutionise the financial services landscape in the country. To help further digitise the economy, and most importantly to help bank the unbanked by reaching the millions of Nigerians who do not currently have access to financial services by delivering current and savings accounts, payment and remittance services, debit and prepayment cards and more sophisticated services.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
