Business News of 2014-04-19

Vivo Energy, MTN sign partnership agreement

Vivo Energy, the company that distributes and markets Shell branded products in 16 African markets, and MTN have announced a pan-African agreement to expand both companies footprint in providing services to their growing customer base.

Vivo Energy operates 1,430 Shell branded service stations and aims to be the most respected energy company in Africa. MTN operates in 22 countries in Africa and the Middle East, with 207.8 million subscribers.

Through this alliance both companies aim to provide MTN and Shell customers more points of service across Vivo Energy’s network of Shell service stations. It will initially be rolled out in five markets where Vivo Energy and MTN currently overlap namely: Ghana, Botswana, Ivory Coast, Guinea Conakry, and Uganda.

The scope of the alliance includes Shell service stations being Cash In and Cash Out points for MTN Mobile Money customers, Shell service Stations providing float to MTN Mobile Money agents, MTN Mobile Money being accepted as a mode of payment for products and services in all Shell Service Stations, and Shell service stations will stock and sell MTN airtime through MTN Mobile Money.

Mr David Mureithi, Executive Vice President of Supply and Marketing at Vivo Energy, said: This alliance confirms Vivo Energy’s objective to continuously bring innovative solutions to our growing number of customers.

He said African markets have been driving the growth of mobile money over the past few years and with the increasing use of mobile technology in the continent, it would be touching even more Africans in the near future.

We are confident that together with MTN, we shall remain at the forefront and offer our customers the opportunity to use a modem money transfer and payment tool on our service stations, he said.

According to Pieter Verkade, MTN Group Chief Commercial Officer said: Partnerships like the one we have established with Vivo Energy present an opportunity for MTN to make the lives of millions of MTN Mobile Money customers a whole lot brighter, by adding more convenient, easily accessible mobile money merchants to our already extensive footprint.

MTN Mobile Money enable users to perform local and international money transfers, make utility and other service payments, purchase airtime and access a range of mobile financial products. As of 31st December 2013, MTN Mobile Money had 14.8 million registered users, and is available in 14 countries.