Airtel Africa and Mukuru, one of Africa’s largest remittance providers have partnered to speed up cross border money transfers in 12 African nations.
Mukuru Majorly operates in South Africa and with the partnership, its customers will be able to send cross border transfers to Airtel Money customers wallets in the countries.
Customers will be able to make seamless international money transfers without having to visit an agent to make or receive their cash. Once a customer receives money on their accounts, they will be able to use them to avail a broad range of online products and services through the Airtel Money platform, including paying utility bills, purchasing goods and services, transferring money to family or withdrawing cash from any of Airtel Africa’s exclusive branches.
“This partnership empowers those without a bank account to be included in the formal financial ecosystem and to move money conveniently, seamlessly and securely. At a time when intra-Africa cross-border payments are of strategic importance, we are pleased to be working together on cross-country mobile money transfers, while also supporting local economies,” said Raghunath Mandava, CEO, Airtel Africa.
The deal will also see Airtel Africa significantly expand its mobile payment offering, particularly in Southern Africa, where Mukuru has a strong market presence.
“This partnership exemplifies the collaborative spirit in which Mukuru is engaging with other industry leaders to provide universal access to cash and digital financial services across the continent. The enablement of digital money transfers between Mukuru and Airtel Africa customers means we can offer greater choice to the hardworking diaspora when providing for their families back home. The freedom to choose the solution best befitting your personal circumstances is pivotal to true economic empowerment,” said Andy Jury, CEO, Mukuru.
The service will first rollout in Malawi, Zambia, Uganda, Tanzania, Kenya and the Democratic Republic of the Congo, with future plans in place to launch in subsequent Airtel Money markets. The companies did not comment on when they will materialize the plans.
However, the partnership still awaits regulatory approvals to be fully operational.
