Telecom giant Airtel Africa Plc (NSE ticker – AIRTELAFRI), is expanding it fintech business across Africa. The company has signed a new partnership deal with Standard Chartered Bank, with the aim of driving financial inclusion across the key markets is Africa.
The partnership with the British multinational bank, which operates in over 60 countries globally, will enable Airtel Africa to provide its customers with increased access to mobile financial services. This is according to the publication signed by Simon O’Hara, Airtel Africa’s Group Company Secretary.
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.
Implication; 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.
“This means that 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” Airtel Africa CEO said.
In order to improve financial services across Africa, Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services.
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Commenting on the partnership, Raghunath Mandava, CEO, Airtel Africa, said: “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.”
The share price of Airtel Africa had remained unchanged at N348.00 per share on NSE since 16 July, because it did not trade the quantity that will initiate a price change, However, the share price rose by 9.2% to N380.00 on Wednesday. At the time of this report, it has not traded enough quantity to enable a price change on Thursday.
Written by;
Ifunanya Ikueze
