back Back

Africell launches mobile money services in Angola

By Leandra Monteiro

April 24, 2023

  • Africa
  • Africell Group
  • Afrimoney
Share

Africell, Afrimoney Africell announced it is launching its mobile financial services in Angola.

Backed by Angola’s newest mobile network operator, the Afrimoney mobile money platform will provide essential financial tools to many of approximately 50% of Angolans who don’t have bank accounts. Through their mobile phones, Afrimoney users will be able to transact digitally with other individuals and organisations on the network, gaining the ability to transfer, spend and earn instantly.

Kátia Da Conceição, Director of Afrimoney Angola said, “Mobile money is highly beneficial to those who rely on cash in their daily activities”, she says. “These are often people in low-income or marginalised communities. Reliance on cash causes problems. Afrimoney is harnessing growing mobile penetration in Angola to offer users a simple, safe and accessible alternative, accessed through mobile phones”.

Africell started mobile network services in Angola in April 2022 and the launch of Afrimoney only a year later is a significant milestone.

“Africell came to Angola with a mandate to change its telecoms sector”, said Ziad Dalloul, CEO, President and Founder of Africell Group. “Launching Afrimoney is a critical step in this strategy. Our network is designed to help customers be better connected, live more efficiently, and access a wide range of digital services. Mobile money has the potential to link everything together, and we expect it to have a huge impact on our business and Angola’s economy”.

Africell is the only US-owned network operator in Africa, with the U.S. government (through the U.S. Development Finance Corporation, or DFC) its biggest external investor. The launch of Afrimoney also represents a success for Angola’s government, which is pursuing a long-term economic strategy focused on digital services and technology.

After years of under-investment in Angola’s mobile sector, Africell’s arrival has shaken things up by

To welcome new users, Africell Angola will offer new Afrimoney customers free person-to-person transactions and 100% bonus on all mobile recharges paid for using mobile money. In time, the Afrimoney platform intends to incorporate financial services including credit, saving and insurance.

Previous Article

April 24, 2023

MAS launches scheme to encourage FinTechs to hire and train university students in Singapore

Read More
Next Article

April 24, 2023

Bixby raises $5.5m Series to expand product offerings

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Africa

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Confida and illimity create new capillary proximity network, Pehi

Read More

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023