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Airtel launches cross border money transfer services

AIRTEL Tanzania has opened another corridor for cross-border money transfer, where Airtel money customers will now be able to send and receive money from Kenya in a move aimed at deepening financial services, a further boost to the regional integration agenda.

Airtel Tanzania has partnered with the Kenya mobile service counterpart Airtel Kenya to enable seamless transactions between the two networks’ customers with Airtel Money Tanzania set to benefit over 8.0 million Airtel Money users in the country.

Speaking in Dar es Salaam while announcing ‘Send Money to Kenya’, Airtel Tanzania Communications and Regulatory Affairs Director Ms Beatrice Singano said, “launching transactions between Kenya and Tanzania will make it more convenient for individuals to transact across borders and unleash the transformative power of a first of its kind cross-border payment network.”

Ms Singano added Airtel money is increasingly becoming an attractive and more inclusive operator in offering faster, convenient and safe, cross border remittance.

The service is affordable with the most competitive fees compared to other international money transfer methods further adding that the recipient in Kenya will receive the money instantly, once the transaction is confirmed.

Speaking at the same time Airtel Money Manager, Fidelis Mwebesa, said that an analysis of the World Bank data indicates that over 5.3tri/- was sent from Tanzania to Kenya in 2018.

“Estimates, however, would inspire an even larger amount after considering sums transacted through informal channels including traditional bus transfers and friends who risk the loss of the money or late delivery but now Airtel have simplified the plight by partnering with our Tanzania counterparts,” he said.

Currently, Airtel Money customers are already receiving money directly to their mobile phones, from Airtel Tanzania’s sister operators in Zambia and Malawi and from numerous money transfer operators across the world including, Qatar, Oman, South Africa, United Kingdom, Seychelles, and United Arab Emirates, while they can, in addition, send and receive money from Rwanda.

THE Minister for Industry and Trade Innocent ...

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Author: DAILY NEWS Reporter

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