MTN to partner with Ecobank to improve access to mobile financial services

Mobile operator MTN is to partner with Ecobank, a pan-African banking conglomerate, to improve access to mobile financial services in the African continent.

Mobile operator MTN is to partner with Ecobank, a pan-African banking conglomerate, to improve access to mobile financial services in the African continent.

MTN Mobile Money users, if they are also Ecobank customers, will be able to withdraw cash from Ecobank ATMs in 12 African countries.

Customers will also be able to transfer money between their Mobile Money and Ecobank accounts, the mobile operator announced.

The service was initially piloted in Ghana last month, and will soon be launched in Benin, Cameroon, Ivory Coast, Guinea Bissau, the Republic of Guinea, Liberia, Congo Brazzaville, Rwanda, South Sudan, Uganda and Zambia.

MTN’s Mobile Money registered subscriber base grew 57.3% to 14.8m in 2013, enabling users to perform local and international money transfers, make utility payments, purchase airtime and access other mobile financial products.

Pieter Verkade, MTN Group chief commercial officer, said: "We are extending our co-operation in Africa to expand the range of services provided, as well as to further explore the development of mobile financial services in these countries.

"MTN is particularly excited by this agreement as it fits in perfectly with our on-going efforts to improve access to financial services for our customers and broader communities in the countries where we operate," he added.

MTN and Ecobank are also looking to partner in developing a unique mobile savings offering within their countries of mutual presence.

 

Related to:

Ecobank opens two new branches in Harare, Zimbabwe

Standard Bank, MTN Swaziland team up to roll out new mobile banking product