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CEO Weekends: Airtel Money to Launch Cross Border Money Transfers Across East Africa

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A worker cleans a Bharti Airtel logo inside its shop in KolkataAirtel 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”.

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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.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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