MTN has announced a collaboration with Africa’s leading independent banking group, Ecobank Transnational Incorporated (ETI), enabling both companies to leverage each other’s assets that will ultimately offer more value to their respective customers across the continent.
The two entities, with an extensive footprint on the continent, have signed a Memorandum of Understanding (MoU) to develop this partnership agreement, which will allow them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank Banking services.
“The changing landscape of digital banking and mobile telephony is creating unique opportunities in the way and manner customers are served. Africa will need to digitise financial services to rapidly scale up client acquisition and patronage. MTN and Ecobank are taking the big step today at this grand event to support this agenda,” said Ade Ayeyemi, Ecobank Group Chief Executive Officer.
Further he reiterated that Ecobank’s digital strategy has long been committed to ensuring transaction convenience for the market. We have made giant strides in our mission to ensure financial inclusion and today’s agreement with MTN will greatly accelerate the easy availability of banking services to the previously unbanked.
“Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent,” comments Rob Shuter, MTN Group President and Chief Executive Officer.