Airtel Africa partners Ecobank to facilitate mobile financial services

Ecobank

Ade Ayeyemi, CEO of Ecobank Group

Airtel Africa and African banking group Ecobank have entered into a contract to facilitate Airtel Money and Ecobank customers with improved access to mobile financial services across Africa.

The partnership, which is subject to regulatory approval, is expected to offer Airtel customers online deposits and withdrawals, real-time domestic and international money transfers, in-store merchant payments, loans, and savings services, using Ecobank’s ecosystem.

As a part of the deal, Ecobank corporate account holders will be able to make direct bulk disbursements into Airtel Money wallets. The bank will also be able to sponsor Airtel Money to issue both virtual and physical debit and pre-paid cards to Airtel customers.

“…this partnership with Airtel Africa which makes Ecobank financial services available to any Airtel line registered on Airtel Money, in our markets where regulatory approvals are in place. This potential extensive reach will further provide convenience to customers, intra-country and particularly for cross-border transactions and remittances across Africa,” Ade Ayeyemi, CEO of Ecobank Group, commented.

Airtel Africa is a provider of telecommunications and mobile money services, with a presence in 14 countries across Africa. The company offers various telecommunications services such as mobile voice and data services and mobile money services both nationally and internationally.

Incorporated in Lomé, Togo in 1986, Ecobank Transnational Inc (ETI) is the parent company of the pan-African banking group, Ecobank, with subsidiaries in 33 African countries. It also has a presence in Paris, France, Ethiopia, UAE, UK, and China. It offers consumer banking, commercial banking, corporate and investment banking, securities, wealth and asset management services to about 20 million customers, via its 800 branches and offices.

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