Bharti Airtel has unveiled plans to introduce a cross-border mobile money transfer service for its customers based in Kenya, Rwanda and Uganda.
Go deeper with GlobalData
Subject to approval by the Central Banks of Kenya, Rwanda, Tanzania and Uganda, the new service will allow customers to send money across borders, top up their airtime and data, pay utility bills, purchase goods and services and withdraw cash at select automated teller machines.
The pilot phase will be launched on 1 November 2014, covering Kenya, Uganda, and Tanzania. In this phase, customers of the Bank of Africa in Kenya and Uganda will be able to transact across both countries.
The service is expected to be introduced to other African regions within a year from the pilot launch.
Chidi Okpala, director of Airtel Money, said: "Mobile money remains a key element in boosting financial inclusion in East Africa. This is also a confirmation of the broader commitment of the governments of Rwanda, Uganda, Kenya and Tanzania in improving trade and commerce activities within the region."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
