Johannesburg, Feb 27 (I-Net Bridge) - MTN Group said on Monday that its mobile money service would be available through its agent network and BancABC branch network in Zambia.
The announcement comes after the Bank of Zambia issued MTN Zambia with a full commercial mobile money license in January 2012, after a successful pilot project netted over 170,000 customers since inception in July last year.
Over the same period, MTN Zambia also acquired a network of 340 mobile money agents across the country.
In terms of the strategic partnership with Banc ABC, MTN Zambia customers would be able to load and withdraw money from their mobile phones through service centres, agents, connect stores and the BancABC branch network.
"The phenomenal uptake of mobile money in Zambia is a clear indication that an increased number of Zambians are excited to finally have the ability to conduct financial transactions through their mobile phones. As MTN, we are equally excited to be able to give them that ability, and the convenience that comes with it," Christian de Faria, MTN's group commercial officer said.
In some of the markets where the service is offered, customers are now able to pay their utility bills, amongst other transactions, using MTN Mobile Money.
MTN said that it had successfully deployed its MTN mobile money service in 11 other markets, including Uganda, Swaziland, Ghana, Cote d'Ivoire, Cameroon and Rwanda.
De Faria added that the launch of MTN mobile money in Zambia would open up plenty of exciting opportunities in terms of financial services inclusivity.
"The agreement with BancABC also confirms our commitment to continue exploring innovative ways to make our products as accessible as possible within the Zambian market", he added.
The launch of the MTN Mobile Money service with BancABC will enable MTN subscribers to open a mobile money account at any of the bank's 19 branches and 10 mobile banks across Zambia.
Subscribers would, upon registration, be able to load and store electronic money on their mobile phones and use their mobile number as an account number.
"The unique feature of MTN Mobile Money is that customers can send money to any cellphone user on MTN or other networks. This joint partnership with BancABC as an MTN Mobile Money agent will assist greatly in agent liquidity and providing cash in and cash out services for our customers," Abdul Ismail, MTN Zambia CEO said.
According to MTN, the mobile money was currently being utilised by over six million customers across the MTN footprint with over two million of those users in Uganda.
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