JOHANNESBURG – International banking group Standard Chartered and telecommunications company Airtel Africa on Thursday announced they would collaborate to drive financial inclusion across key markets in Africa by providing customers with increased access to mobile financial services. In a joint statement, the companies said they would work together to create new products aimed at enhancing the accessibility of financial services, with Airtel Money customers being able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets and access savings products. Standard Chartered’s corporate clients will be able to make rapid and secure bulk disbursements, such as payroll payments, directly into the Airtel Money customer’s wallet, reducing the risks associated with travelling long distances for cash payments. “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,” the bank’s regional chief executive for Africa and Middle East Sunil Kaushal said. “Over the past year, Standard Chartered has rapidly launched digital banks across nine countries on the continent, allowing our customers to enjoy seamless services from the safety of their homes even during the peak of the pandemic. This partnership will further enhance the ability of our customers to manage and move money safely and securely and create market-leading financial solutions across countries.”

The partnership supports Airtel Africa’s efforts to expand the range and depth of its Airtel Money offerings across its 19 million customer base. “We continue to invest heavily in cashing in and cashing out locations for our customers and increase our distribution,” chief executive Raghunath Mandava, said. “This means that our customers can now send or receive digital payments via Standard Chartered Bank directly to their mobile phones, as well as cash out their funds at our exclusive kiosks and branches at their convenience. This highlights Airtel Africa’s commitment to providing affordable, innovative, best-in-class solutions to enhance the daily lives of our customers.” Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya, Tanzania, Uganda and Zambia. Remaining products will be rolled out later this year subject to regulatory approvals. Standard Chartered has a presence in 59 of the world’s most dynamic markets and serves clients in a further 85. Airtel is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in East, Central and West Africa. – Nampa/ANA