Bharti Airtel plans cross-border money transfers
Cross-border money transfers between three East African nations will soon become possible after Bharti Airtel rolled out a mobile money platform in Uganda.Cross-border money transfers between three East African nations will soon become possible after Bharti Airtel rolled out a mobile money platform in Uganda.
The network's move paves the way for cross-border transfers between Uganda and Tanzania and Kenya, where it already has similar offerings, the Citizen reports.
Vice-President for Corporate Communication at Airtel Africa Michael Okwiri explained the company are "waiting for regulatory approvals", having applied for permission to set up the service.
It would enable Airtel subscribers to use their handsets to send money to people such as friends or relatives, living outside of their own country, as well as give the unbanked access to financial services.
The firm, which operates in 19 countries across Asia and Africa and has over 186 million customers, upgraded its Ugandan mobile money offering this week, after completing a similar move in Tanzania in December 2011.
Mobile money services are growing in popularity across Africa and Zantel, another mobile phone provider, recently relaunched its Z-Pesa product as Ezy Pesa, which enables customers to purchase micro-insurance using their handsets.