Airtel partners with Ecobank to offer M-Banking

Bharti Airtel, a global telecommunications services provider with operations in 20 countries across Asia and Africa, has entered into a partnership with Ecobank Transnational Incorporated -- the pan-African banking group with presence in 34 countries in Africa -- to deliver Airtel Money across nine African countries where Airtel also has operations.

With this agreement, millions of Airtel and Ecobank customers across Africa will be able to access secure, convenient and instant mobile financial services.

The partnership between Airtel and Ecobank is already effective in seven African countries: namely Burkina Faso, Chad, Democratic Republic of Congo, Ghana, Niger, Zambia and Kenya. Airtel Money will also be rolled-out in Gabon and Sierra Leone later this month.

The partnership enables Airtel customers to conduct a variety of mobile transactions. This offering, which is subject to regulatory approval in each market, enables Airtel Money deposits and withdrawals at any Ecobank branch, utility bill payments and two-way money transfers between Airtel Money and Ecobank. Customers will also be able to view their bank account balances and statements in real-time via Airtel Money.

“Ecobank is committed to bringing financial services to all Africans including the unbanked and under-banked through collaboration with major partners -- Telcos like Airtel,” said Patrick Akinwuntan, Ecobank’sGroup Executive Director, Domestic Bank. “All that is required to enjoy this service is an Ecobank account and an Airtel line registered on Airtel Money in markets where regulatory approvals are in place.”

Mr. Akinwuntan commented further that the partnership’s extensive reach affords customer convenience, particularly for cross-border transactions and remittances across Africa.

Chidi Okpala, the Director of Airtel Money Africa, said: “This partnership is a further demonstration of Airtel Africa’s commitment to provide affordable, simple and innovative solutions for our consumers across Africa”.

He added: “At Airtel, we will continue to offer locally relevant M-Commerce solutions with more partners like Ecobank in order to enhance the daily lives of our customers.”