Airtel Africa PLC Airtel Africa and Finablr: Global Partnership (6237Q)
22 Octubre 2019 - 01:00AM
UK Regulatory
TIDMAAF
RNS Number : 6237Q
Airtel Africa PLC
22 October 2019
Airtel Africa and Finablr Announce a Global Partnership to
Facilitate Seamless Inbound and Outbound Cross-border
Payments
London, 22 October 2019: Airtel Africa, a leading
telecommunications service provider, and Finablr, a global platform
for payments and foreign exchange solutions, have entered into an
extensive global partnership that will see the two companies
bringing together their complementary capabilities. As an outcome
of the arrangement, Airtel Africa mobile money operations will be
integrated with Finablr's technology platform and global network to
facilitate seamless inward and outbound cross-border payments.
The arrangement will allow customers to leverage Finablr's
global network to send money from over 100 countries into Airtel
Money mobile wallets across Africa, in a convenient, secure and
cost-effective manner. Additionally, Airtel Africa will leverage
Finablr's technology capabilities to develop and deploy digital
solutions, enabling African expatriates to settle payments into
Airtel Money wallets in real time through the Airtel Money mobile
app and the Airtel Africa online portal. The services are expected
to be launched market-by-market in a phased manner, with the first
country to go live by year-end. The launch will be supported by a
comprehensive worldwide marketing programme to introduce the new
services to African communities overseas and to receivers in
Africa.
Through this partnership, Airtel Africa benefits from gaining
access to Finablr's global payments connectivity, technology
platform and its omnichannel sourcing and distribution capabilities
spanning 170 countries. For Finablr, the partnership with Airtel
Africa will help accelerate its expansion across the continent with
potential access to Airtel's 100 million+ subscriber base. The
partnership is viewed by both parties as long term with significant
potential to grow. Following the launch, the partners will explore
additional opportunities including intra-Africa payments and other
value-added services.
Promoth Manghat, Group CEO of Finablr, commented, "We are
delighted to partner with Airtel Africa, and join hands to deliver
affordable and reliable payments services to customers. Together,
building on the strength of our technology platform, we are
delivering fintech at scale thereby empowering consumers and
businesses across the continent."
Raghunath Mandava, CEO of Airtel Africa, said, "We are excited
that Airtel Money will collaborate with Finablr to introduce global
payments services, enabling customers to make cross-border
remittances, pay bills, make purchases and withdraw cash from our
outlets and agents across the continent. This is another important
example of how mobile technology will play a key role in changing
the way people connect with their homes in Africa."
Inbound remittances to Sub-Saharan Africa grew nearly 10 percent
to reach US$46 billion in 2018 as per World Bank estimates and, as
the primary source of external financing in the region, is critical
for its socio-economic development. With the average cost of 9.4
percent, Sub-Saharan Africa ranks amongst the most expensive
remittance corridors globally. The partnership between Airtel
Africa and Finablr will harness the true potential of mobile
financial services by simplifying and streamlining remittances into
the region. This reflects the shared commitment of the companies
towards driving financial inclusion and supporting the UN
Sustainable Development Goals by reducing the cost of
remittances.
-Ends-
For enquiries, please contact:
Airtel Africa: Investor Relations Finablr: Investor Relations
Pier Falcione, Anna Kaim Ryan Ayache
+44.20.7493.9315 +971.56.681.5321
investor.relations@africa.airtel.com ryan.ayache@finablr.com
Airtel Africa: Media Relations Finablr: Media Relations
Kevin Soady, Katherine Fennell Faiz Habib
+44 20 3755 1600 +971.52.623.1113
Michael Okwiri faiz.habib@finablr.com
Michael.Okwiri@africa.airtel.com
----------------------------
About Airtel Africa
Airtel Africa (LSE: AAF; NSE: AIRTELAFRI) is a leading provider
of telecommunications and mobile money services, with a presence in
14 countries in Africa, primarily in East Africa and Central and
West Africa.
Airtel Africa offers an integrated suite of telecommunications
solutions to its subscribers, including mobile voice and data
services as well as mobile money services both nationally and
internationally. The Group aims to continue providing a simple and
intuitive customer experience through streamlined customer
journeys.
About Finablr
Finablr (LSE: FIN) is a global platform for Payments and Foreign
Exchange solutions underpinned by modern proprietary technology.
With deep regulatory know-how, a relentless focus on innovation and
leading industry partnerships, Finablr's group companies provide a
broad array of tailored and trusted financial solutions for
consumers and businesses across a wide network of digital channels,
payments platforms and retail stores.
Finablr is present across the entire payments and foreign
exchange value chain, from origination to processing to last-mile
distribution. An integrated platform is at the heart of group's
proposition, supporting an omni-channel strategy underpinned by
best-in-class operating capabilities and connectivity to global
payment networks. Driven by technology, the platform combines
flexibility with significant economies of scale, making Finablr a
partner of choice for leading global banks, financial institutions,
retailers, mobile wallet providers and payment & technology
companies.
Through its category renowned brands, including UAE Exchange,
Travelex, Xpress Money, Unimoni, Remit2India, Ditto and Swych,
Finablr processed over 150 million transactions in 2018, managing
nearly USD 115 billion in volume for its customers. The groups
global reach spans over 170 countries with relationships with more
than 100 regulators.
For more information, visit the Finablr website:
www.finablr.com
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