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Browsing: Airtel (Airtel Money)
- Today, many Africans struggle to manage their finances, often using up their salaries before they even receive them.
- This struggle is partly due to a failure of financial inclusion, which is a chance for all individuals to access financial tools.
- Financial inclusion is a means of reducing inequality and bridging economic gaps.
Financial inclusion is a concept that transcends economic borders, embodying the idea that access to financial services is a fundamental human right that can empower individuals to build wealth and improve their lives.
While financial inclusion might appear irrelevant to those who seemingly have access to financial tools, it’s imperative to recognize that a significant portion of the global population, particularly in Africa, still faces barriers to formal financial services.
According to the World Bank’s 2021 Global Findex report, up to 38 percent of adults in developing countries remain unbanked.
Financial inclusion means bridging gaps
At its core, …
Airtel Africa and Ecobank Transnational Incorporated (ETI) signed a partnership which will benefit Airtel Money and Ecobank customers.
Airtel Money and Ecobank customers will have access to mobile financial services and carry out a variety of mobile transactions.
The partnership is subject to regulatory approval in each market. Through the partnership, Airtel Money customers, through Ecobank’s digital financial services ecosystem will be able to make online deposits and withdrawals, make in-store merchant payments, effect real-time domestic and international money transfers and access loans and savings products.
Ecobank will be able to sponsor Airtel in issuing both virtual and physical debit cards as well as prepaid cards to customers.
In a statement, Ecobank said the partnership will give corporate account holders a go through when making bulk disbursements, such as payroll payments, directly into Airtel Money customer wallets. Through Ecobank, Airtel Money will now issue both virtual and physical debit and …