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MTN, Ecobank tie mobile money pact


Ecobank and MTN have close a mobile financial services deal under which MTN Mobile Money users can withdraw cash from the banks ATMs in 12 African countries.

The service was piloted in Ghana last month, and will soon be launched in Benin, Cameroon, IvoryCoast, Ghana, Guinea Bissau, the Republic of Guinea, Liberia, Congo Brazzaville, Rwanda, SouthSudan, Uganda and Zambia.

MTN Mobile Money enables users to perform local and international money transfers, make utility and other service payments, purchase airtime and access range of mobile financial products. As of 31 December 2013, MTN Mobile Money had 14.8 million registered users and was available in 14 countries according to the mobile phone giant.

Pieter Verkade, MTN Group Chief Commercial Officer said that, “we are extending our co-operation in Africa to expand the range of services provided, as well as to further explore the development of mobile financial services in these countries. MTN is particularly excited by this agreement as it fits in perfectly with our on-going efforts to improve access to financial services for our customers and broader communities in the countries where we operate.”

Also speaking Patrick Akinwuntan, Ecobank’s Group Executive Director for Domestic Banking, “This roll-out further demonstrates our commitment to make branchless banking a reality by activating multiple service channels in every country in which we operate.

Kolade Akinola Technology Journalist at Technology Times Mobile: + 234 (0) 807 401 6027

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