The move is part of MTN’s strategy to increase financial inclusion through the use of mobile technologies, and to reduce the cost of transferring money between countries.
“The launch of this new corridor is an important part of our mobile financial services strategy. The new service will take advantage of the extensive distribution network of MTN Mobile Money in both countries, and reduce the cost of sending and receiving money for our customers,” says Pieter Verkade, MTN Group Chief Commercial Officer.
“The ability to transfer money easily and cheaply between Burkina Faso and Ivory Coast is already revolutionising the lives of many of our customers. As with the Burkina service, the Benin corridor will not only connect families, but also facilitate trade and business partnerships on a regional scale,” says Wim Vanhelleputte, CEO of MTN Ivory Coast.
MTN Mobile Money has 22,2 million registered users and was available in 15 countries. MTN Mobile Money allows local and international money transfers, utility payments, savings, airtime purchase among others.