MTN and Ecobank link hands to grow services across Africa
MTN has signed an agreement with Nedbank associate Ecobank aimed at growing their various services across Africa. The mobile operator and the Togo-based pan-African bank would consider mobile saving and lending products and digital payment and remittance services, they said in a statement. They would also allow customers to transfer money between their mobile money wallets and bank accounts. This would extend an existing partnership between the groups and “allow them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank banking services”, they said. Ecobank CEO Ade Ayeyemi said the agreement would promote financial inclusion in Africa and would allow customers to “have instant bank accounts, savings accounts, loans and make instant remittances on their mobile phones”. MTN CEO Rob Shuter said partnerships between banks and mobile money operators “are fundamental in the mobile money ecosystem”. In SA, MTN has a microinsurance partnership with...
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