Airtel Africa signs MoU with BGFI to expand money transfer service in Africa

MoU to enable BGFI customers to benefit from bank services over mobile phone

Bharti Airtel Africa, a leading telecommunications service provider with operations in 20 countries across Asia and Africa, has entered into a partnership with financial services institution present in 10 countries, BGFIBank Group to expand mobile money access to the bank’s customers. The partnership will see Airtel Money, Africa’s broadest money-transfer service, become accessible to BGFIBank customers in Gabon, Republic of Congo, Democratic Republic of Congo and Madagascar. Through the agreement, Airtel Money customers that are BGFIBank account holders will be able to transfer money between their bank accounts and Airtel Money, check their BGIF account balance, confirm transactions on their BGIF accounts, order cheque books and ATM cards and access to bank statements.

“This is a significant milestone for Airtel Africa as we seek to broaden our pan-African footprint for Airtel Money to serve customers better. This partnership is also in line with our goal of making financial services accessible to everyone wherever they are, ensuring financial inclusion in Africa,” noted Chidi Okpala, Director and Africa Head, Airtel Money at Bharti Airtel.

Apart from enabling Airtel Money customers visit BGFIBank ATMs and withdraw cash without using electronic cards, the partnership will also allow Airtel Money agents visit BGFI bank branches and buy e-value (float) to support their businesses.

“We have already kicked off the partnership in Gabon, Republic of Congo and The Democratic Republic of Congo and this partnership ensures that we can scale it up for the full benefit of our customers. Plans are underway to ensure Madagascar BGIF customers join the Airtel Money network this quarter,” added Mr. Okpala.

With the signing of this agreement Airtel Money and BGFIBank Group are set to pioneer and launch innovative products and services in the four countries including mobile savings account, mobile loans and International Money Transfer services. 

“This partnership demonstrates the will of the BGFIBank Group to satisfy through innovative services the needs of customers who are more demanding and expect 24h/24 available services, reliable and easy to use. We are aware that the mobile phone is today and will be tomorrow indispensable to distribute our banking services. We put it at the center of our multi-channel strategy,” said Henri-Claude Oyima, BGFIBank Group Chief Executive Officer.