MERGERS, ACQUISITIONS AND FINANCIAL RESULTS
Nigerian bank, telecom operator to join forces on mobile banking
Mobile banking is set to get a major facelift after Nigerian bank FirstBank and Airtel have agreed to join forces to develop and produce a unified mobile money service to millions of users in the country.
The two companies, in a press conference on Monday following the signing of the deal, said the new deal should enable users to have secure, convenient and user-friendly services through their mobile phones.
In recent months, the Nigerian government, operators and the banking sector has pushed forward with efforts to create a better banking sector for the country, especially for those unbanked in Nigeria.
Airtel Nigeria CEO and Managing Director Rajan Swaroop said that “Partnering First Bank to bring mobile financial services to all corners of country further demonstrates Airtel’s commitment to Nigeria and supports the concept of borderless mobile telecoms services across the country.”
Speaking at the signing, Swaroop said, “Indeed, we are excited to partner with one of the biggest financial institutions in the country. This partnership will, without a doubt, assist us in realizing our vision of empowering more Nigerians with innovative and affordable mobile financial services. At Airtel Nigeria, we are committed to creating value propositions that will delight, enrich and benefit our customers regardless of their income level and location.”