NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, December 4, 2014

United Bank for Africa (UBA) is partnering with telecoms firm, Bharti Airtel to provide mobile-based financial services across Africa through Airtel Money.

Airtel Money is Bharti Airtel’s mobile commerce brand that enables subscribers to carry out financial transactions directly from their mobile phones. Under the Memorandum of Understanding (MOU) signed, both companies will expand the range of innovative financial services to their customers in the 12 countries where they are both present within Africa which include Nigeria, Ghana, Burkina Faso, Sierra Leone, Gabon, Kenya, Uganda, Tanzania, Chad and Zambia, Congo Brazzaville and Congo DRC.

UBA operates in 19 African countries as Africa’s Global Bank with over 10 million customers while Airtel has presence in 17 African countries with over 30 million registered mobile money customers.

UBA and Airtel will jointly launch new mobile based financial products and services that are relevant to customers with the objective of driving convenience to their combined over 30 million plus registered customers. These services include International Money Transfer services, Mobile Banking, Super Agency Services, and Payment Cards for their customers. The partnership will also facilitate cardless withdrawal services at ATMs, Mobile Savings and Loans. These initiatives are geared at improving convenience for their teeming customers across the continent whilst boosting intra-Africa trade and commerce.