Ecobank Group partners with MTN to Deepen Financial Inclusion across Africa

MTN has announced a collaboration with Africa’s leading independent banking group, Ecobank Transnational Inc. (ETI), enabling both companies to leverage each other’s assets that will ultimately offer more value to their respective customers across the continent.

MTN’s large subscriber base, comprehensive distribution, innovative digital products and drive for mobile financial services are being linked with Ecobank’s trail-blazing digital banking products to provide instant bank accounts and remittances through Africa’s largest bank by network.

The two entities, with an extensive footprint on the continent, have signed a Memorandum of Understanding 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.

This includes;
* Enabling Ecobank and MTN Mobile Money customers to transfer money between mobile money wallets and bank accounts.

* Leveraging of Ecobank and MTN’s assets to digitise international remittance, foster product innovation in the field of mobile saving and lending, and offer digital payment solutions to consumers, merchants and corporates.

Ade Ayeyemi, Group CEO of Ecobank, said: “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.”