Airtel to launch cross border money transfer

Kenya: Bharti Airtel has announced plans to launch a cross border money transfer product. This will enable Airtel Money customers send, receive and withdraw money from their Airtel wallets across East Africa.

The pilot phase will kick off on November 1, targeting – Kenya, Uganda, Tanzania and Rwanda. This follows an approval by Central Banks of the governments of Rwanda, Kenya, Tanzania and Uganda to launch this initiative. The next phase will roll out the service to other Airtel operating countries within the next year.

Speaking during the 2014 East African CEO Business Summit in Kigali, Rwanda, Chidi Okpala, director and Airtel Money Head noted: “This is a key milestone for Airtel Money customers because a big virtual barrier has been removed and our customers will be able to transact with ease, across national borders.”

“This will not only increase mobile money penetration among countries but will also create business opportunities. Mobile money is a key element in boosting financial inclusion.”