Togo: MTN, Ecobank collaborate on mobile financial services in Africa

Lomé, Togo (PANA) - MTN, one of Africa’s mobile telephone leaders, and Ecobank, the Pan-African bank operating in 36 countries, are to cooperate to improve access to mobile financial services in Africa, according to a joint statement issued in the Togolese capital, Lomé, the headquarters of Ecobank.

According to terms of the agreement, MTN mobile money users, who are also Ecobank customers in 12 African countries, will shortly be in a position to withdraw money from Ecobank teller machines.

They will also benefit from transfer between MTN mobile Money and Ecobank.

The service which, according to the two multinationals, was tested in Ghana in February, will soon also be available in Benin, Cameroon, Côte d'Ivoire, Guinea Bissau, Republic of Guinea, Liberia, Congo Brazzaville, Rwanda, South Sudan, Uganda and Zambia.

The statement said that the two companies "have huge experience in the supply of financial services in several of their markets, with a number of subscribers to MTN mobile money rising by 57.3%, or 14.8 million users, in 14 countries.
-0- PANA FAA/IS/MSA/MA 18March2014