# Airtel Africa and Finablr Announce a Global Partnership

- Link: https://www.directorstalkinterviews.com/airtel-africa-and-finablr-announce-a-global-partnership/412795949
- Published: 2019-10-22T07:30:07+01:00
- Author: Giles Arbor

**Airtel Africa** (LON: AAF), a leading telecommunications service provider, and
Finablr, a global platform for payments and foreign exchange solutions, have entered
into an extensive global partnership that will see the two companies bringing together
their complementary capabilities. As an outcome of the arrangement, Airtel Africa
mobile money operations will be integrated with Finablr’s technology platform and
global network to facilitate seamless inward and outbound cross-border payments.

The arrangement will allow customers to leverage Finablr’s global network to send
money from over 100 countries into Airtel Money mobile wallets across Africa, in
a convenient, secure and cost-effective manner. Additionally, Airtel Africa will
leverage Finablr’s technology capabilities to develop and deploy digital solutions,
enabling African expatriates to settle payments into Airtel Money wallets in real
time through the Airtel Money mobile app and the Airtel Africa online portal. The
services are expected to be launched market-by-market in a phased manner, with the
first country to go live by year-end. The launch will be supported by a comprehensive
worldwide marketing programme to introduce the new services to African communities
overseas and to receivers in Africa.

Through this partnership, Airtel Africa benefits from gaining access to Finablr’s
global payments connectivity, technology platform and its omnichannel sourcing and
distribution capabilities spanning 170 countries. For Finablr, the partnership with
Airtel Africa will help accelerate its expansion across the continent with potential
access to Airtel’s 100 million+ subscriber base. The partnership is viewed by both
parties as long term with significant potential to grow. Following the launch, the
partners will explore additional opportunities including intra-Africa payments and
other value-added services.

**Promoth Manghat, Group CEO of Finablr, commented, **

> “We are delighted to partner with Airtel Africa, and join hands to deliver affordable
> and reliable payments services to customers. Together, building on the strength
> of our technology platform, we are delivering fintech at scale thereby empowering
> consumers and businesses across the continent.”

**Raghunath Mandava, CEO of Airtel Africa, said, **

> “We are excited that Airtel Money will collaborate with Finablr to introduce global
> payments services, enabling customers to make cross-border remittances, pay bills,
> make purchases and withdraw cash from our outlets and agents across the continent.
> This is another important example of how mobile technology will play a key role
> in changing the way people connect with their homes in Africa.”

Inbound remittances to Sub-Saharan Africa grew nearly 10 percent to reach US$46 
billion in 2018 as per World Bank estimates and, as the primary source of external
financing in the region, is critical for its socio-economic development. With the
average cost of 9.4 percent, Sub-Saharan Africa ranks amongst the most expensive
remittance corridors globally. The partnership between Airtel Africa and Finablr
will harness the true potential of mobile financial services by simplifying and 
streamlining remittances into the region. This reflects the shared commitment of
the companies towards driving financial inclusion and supporting the UN Sustainable
Development Goals by reducing the cost of remittances.

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