MTN expands financial services offering with Ecobank deal

Thursday, April 12, 2018

By Paula Gilbert

MTN is moving further into the financial  space, announcing a partnership with major Pan-African banking group Ecobank.

The deal allows both companies to leverage each other’s assets and large subscriber bases and use technology to deepen financial inclusion across the African continent.

The groups yesterday signed a memorandum of understanding in Lagos, Nigeria, to develop a partnership agreement, which they say will allow them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank banking services.

The major areas of  will be  international remittances, product innovation in the fields of mobile saving and lending, as well as digital payment solutions for consumers, merchants and corporates. The deal will also enable customers to transfer money between mobile money wallets and bank accounts.

Photo courtesy of Ava Systems.


Source: ITWeb Africa (link opens in a new window)

digital payments, financial inclusion, mobile finance, remittances