Airtel Africa forms strategic partnership with MoneyGram
Airtel Africa
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16:40 19/04/24
Telecommunications group Airtel Africa has inked a strategic partnership with cross-border payments and transfers provider MoneyGram.
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Airtel Africa said on Thursday that the partnership would allow more than 19.0m Airtel Money customers to route any MoneyGram transfer received from around the world into their phone's mobile money wallets, as well as enabling international senders to push funds instantly and directly to an Airtel Money mobile wallet.
The FTSE 250-listed firm highlighted that the partnership was in line with its strategy of expanding Airtel Money offerings to drive customer growth and penetration and builds on the momentum of existing partnerships with Mastercard and Western Union.
Chief executive Raghunath Mandava said: "This is a significant step forward in our ambition to transform lives through greater financial inclusion and empowerment across the continent.
"Maximising access to global remittances is a key part of this - even more so given the disruption and economic hardship faced by many as a result of the Covid-19 pandemic."
As of 0815 BST, Airtel Africa shares were up 0.85% at 59.0p.