Airtel partners with BGFIBank for mobile money services in Africa

As part of the partnership, Airtel Money will become accessible to BGFI Bank customers in Gabon, Congo and Madagascar

Bharti Airtel Africa, a subsidiary of India's largest cellular operator Bharti Airtel, on Wednesday, said it has entered into a partnership financial services institution BGFIBank Group to expand mobile money access to the later's customers in Africa.

BGFIBank Group has presence in 10 countries. As part of the partnership, Airtel Money will become accessible to BGFI Bank customers in Gabon, Democratic Republic of Congo and Madagascar.

"Through the agreement, Airtel Money customers that are BGFIBank account holders will be able to transfer money between their bank accounts and Airtel Money, check their BGIF account balance, confirm transactions on their BGIF accounts, order cheque books and ATM cards and access to bank statements," the company said in a statement.

Apart from enabling Airtel Money customers to visit BGFIBank ATMs and withdraw cash without using electronic cards, the partnership will also allow Airtel Money agents to visit BGFI bank branches and buy e-value (float) to support their businesses.

"This is a significant milestone for Airtel Africa as we seek to broaden our pan-African footprint for Airtel Money to serve customers better," Bharti Airtel Director and Africa Head (Airtel Money) Chidi Okpala said.

Airtel Money and BGFIBank Group will also launch products and services in the four countries,including mobile savings account, mobile loans and International Money Transfer services. "We are aware that the mobile phone is today and will be tomorrowindispensable to distribute our banking services. We put it at the center ofour multi-channel strategy," BGFIBank Group CEO Henri-Claude Oyima said.