Airtel and Standard Chartered have established a partnership to offer new financial services in Africa, media reports said. With the new partnership, both companies will expand their presence in major African markets to boost access to mobile financial services for the people on the continent.
Standard Chartered’s regional CEO, Africa and the Middle East, Sunil Kaushal, told the media, “By collaborating with innovative organisations like Airtel Africa, we are accelerating our mobile and digital-led strategy to provide best in class financial services to Africa. By partnering with mobile wallet providers, the bank has expanded its network into markets where mobile wallets are prevalent, offer solutions that enable corporate and institutional clients to leverage the opportunities presented by mobile money.”
Africa and Standard Chartered will also develop new innovative products to help people on the continent utilise financial services and similar facilities seamlessly. Furthermore, the Airtel Money’s customers in Africa will be able to access Standard Chartered’s services such as real-time online deposits, withdrawals and wallet money transfer.
The partnership will pave the way for the bank’s corporate clients to carry out bulk disbursements, such as payroll payments into Airtel Money customers’ wallets. In countries such as Tanzania, Uganda and Zambia and Kenya, the mobile banking transfers between Airtel Money and Standard Chartered are currently active.
Apart from these developments, the launch of other new products is on the line.
The new partnership is a big boost for the economy in Africa amid the Covid-19 outbreak.