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Standard Chartered partners Airtel Africa to deepen financial inclusion across Africa

StanChart to sell sub-Saharan Africa business to Access Bank

Standard Chartered Bank joins forces with Airtel Africa for a strategic collaboration to drive financial inclusion across key markets in Africa. The partnership by the bank and the Telco Company will provide their customers with increased access to mobile financial services, according to the companies.

Through the collaboration, both parties plan to co-create new, innovative products aimed at enhancing the accessibility of financial services and, ultimately, better serve Africans across the continent.

In line with this, Airtel Money’s customers will be able to make real-time online deposits and withdrawals from Standard Chartered bank accounts, receive international money transfers directly to their wallets, and access savings products amongst other services.

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Standard Chartered’s corporate clients will also be able to make rapid and secure bulk disbursements, such as payroll payments, directly into the Airtel Money customers wallet. This reduces the risks associated with travelling long distances for cash payments and instead customers can go to any Airtel Money agent, kiosk, or branch to cash-out their funds.

“By collaborating with innovative organisations like Airtel Africa, we are accelerating our mobile and digital-led strategy to provide best in class financial services to Africa, Sunil

Kaushal, Regional CEO, Africa and Middle East said, adding that, over the past year, Standard Chartered has rapidly launched digital banks across 9 countries in Africa.

According to Kaushal, it will allow Airtel customers to enjoy seamless services from the safety of their homes. “This partnership will further enhance the ability of our customers to manage and move money safely and securely and create market-leading financial solutions across countries,” Kaushal added.