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Airtel Chad launches mobile Money

By , ITWeb
Africa , 18 Jun 2012

Airtel Chad launches mobile Money

Airtel Chad has collaborated with leading bank Ecobank to launch Airtel Money in the West African nation.

Touted as the first mobile commerce product in the country, subscribers would be able to carry out financial transactions on their mobile phones and enhance the delivery of financial services at affordable costs.

Salia Gbane, chief executive officer, Airtel Chad, said "This service allows customers to send money to their relatives, pay essential bills such as electricity and water, tuition fees, bookings and even buy groceries without having to carry cash.”

"This partnership clearly demonstrates the revolutionary role that mobile communications can play in improving the living conditions of the communities that we serve," Gbane said.

In many developing regions, including Africa, the availability of formal financial services remains the prerogative of a privileged few, sometimes leaving the majority of the population with informal, expensive and unreliable channels as the only recourse for their transactions.

It is in light of this that recent studies have suggested that the total value of mobile money transfers in Africa is expected to exceed $200 billion in 2015 due to the growing confidence of users in the system, coupled with a wide range of services on offer.

Major players in the market, especially banks and mobile operators, have also expressed an interest in filling this gap.

Transactions would be very simple and completely secure. All the customer needs is a mobile phone and a personal password whenever he wants to complete a transaction.

Gbane reiterated that Airtel Money would be available in all areas covered by the Airtel network.

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