Boosting Financial Inclusion With Airtel Mobile Money
The recent investment of $200 million in Airtel Africa’s mobile money business by The Rise Fund will further enhance financial inclusion in Nigeria, since the country is one of the 14 African countries, where Airtel Africa currently operates, writes Emma Okonji
The initiative of the Central Bank of Nigeria (CBN) to deepen financial inclusion in Nigeria since 2012, through the adoption of a National Financial Inclusion Strategy (NFIS), designed to on-board the unbanked and make them financially inclusive, using the digital platform of telecoms operators, has received another boost, with the recent investment of $200 million in Airtel Africa’s mobile money business by The Rise Fund, a global impact investing platform.
Based on the investment plan and the signed agreement, The Rise Fund will be investing $200 million in Airtel Africa’s mobile money business, at $2.65 billion valuation on a cash and debt-free basis.
Photo courtesy of Fiona Graham/WorldRemit.