Ecobank seal deal with MTN on pan-African mobile financial services

MTN and Ecobank have sealed a mobile banking partnership to boost the bank’s customers’ base and deepen financial inclusion.

The Ecobank-MTN partnership will enable Bank-to-MTN mobile money wallet, wallet-to-bank transfers and cardless ATM withdrawal for MTN mobile money users.

The partnership also intends to use the rapid transfer platform to provide MTN mobile money users to make Intra-Africa funds transfers.

The partnership will also provide savings accounts and lending solutions to MTN Mobile Money users, among others.

President and Chief Executive Officer, MTN group, Rob Shuter and Ecobank group Chief Executive Officer, Ade Ayeyemi signed the memorandum of understanding (MOU) at an event in Lagos.

Ecobank expects a massive boost on its digital banking platform with a projected increase of customers to 100 million from 13 million by 2020.

Adeyemi said the efforts by both brands would go a long way in solving the problem of financial inclusion and providing services to customers via their mobile devices.

 

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