Airtel partners with BGFIBank for mobile money services

Through the agreement account holders will be able to transfer money between their bank accounts and Aitel Money

Bharti Airtel has partnered with financial services institution BGFIBank Group to expand mobile money access to the latter's customers in four African countries.

As part of the tie-up, Airtel Money will become accessible to BGFIBank customers in Gabon, Republic of Congo, 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.

The company said apart from enabling Airtel Money customers visit BGFIBank ATMs and withdraw cash without using electronic cards, the partnership will also allow Airtel Money agents 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.

With the signing of this agreement, Airtel Money and BGFIBank Group are set to 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 tomorrow indispensable to distribute our banking services. We put it at the center of our multi-channel strategy," BGFIBank Group Chief Executive Officer Henri-Claude Oyima said.