MTN Group and Bharti Airtel has entered into a cross-border remittance partnership to transfer money between Ivory Coast and Burkina Faso. The partnership would help both the operators’ customers on either side of the border.
It will enable Mobile Money customers of MTN Ivory Coast and Airtel in Burkina Faso to easily transfer money between the neighbouring countries. Until now, moving money between the two countries was mired by high fees, high usage of informal channels and a lack of proximity to withdraw money.
“With a sizeable community of Burkinabe working in Ivory Coast and sending money back to their home country, the partnership will greatly enhance the Mobile Money service for customers in both countries,” said Pieter Verkade, MTN Group Chief Commercial Officer.
MTN and Airtel already enjoy great adoption of Mobile Money services in their respective footprints, and connecting their operations through remittance services appears a logical next step.
“This partnership between Airtel and MTN is quite symbolic; the first time that two leading providers of mobile money services are cooperating to offer a service. Secondly, this is the first cross-border mobile-to-mobile remittance service in West Africa and it has been designed to eliminate current pains associated with remitting funds between both countries, while offering best-in class security that protects the “sweat” of hard working Burkinabes that want to remit funds back home to their loved ones,” said Chidi Okpala, Airtel Africa Group Director for Airtel Money.