Airtel Africa plans to launch a cross border money transfer product in East Africa to enable Airtel Money customers to send, receive and withdraw money from their Airtel Money wallets. This comes just days after MTN Uganda and MTN Rwanda techmoran and Tigo Rwanda and Tigo Tanzania announced similar moves.
Kicking off on November 1st, 2014, the first phase targets Kenya, Uganda, Tanzania and Rwanda and then extend the move to other countries that Airtel operates in.
Chidi Okpala, Director and Airtel Money Head noted: “This is a key milestone for Airtel Money customers because a big virtual barrier has been removed and our customers will be able to transact with ease, across national borders. The service will extend convenience by way of cost efficiency and reach while facilitating remittances and small trades within East Africa”.
He added: “This will not only increase mobile money penetration amongst countries but will also create business opportunities. Mobile money remains a key element in boosting financial inclusion in East Africa. This is also a confirmation of the broader commitment of the Governments of Rwanda, Uganda, Kenya and Tanzania in improving trade and commerce activities within the region.”
The pilot project will also enable Bank of Africa (BOA) customers in Kenya and Uganda to send and receive money across the two countries.