Airtel launches Smartcash to drive financial inclusion
By Oghale Mafuru
As part of efforts to consolidate initiatives to enhance financial inclusivity in the country, Airtel, a leading telecommunications company has launched a Payment Service Bank, PSB to facilitate easy and seamless access to financial services, especially to the unbanked consumers in rural areas and other parts of Nigeria.
Speaking during the official launch of “Smartcash Payment Service Bank ” a new subsidiary of the Airtel Group held at the Prestigious Eko Hotel, Segun Ogunsanya, the Group Chief Executive officer, Airtel Africa, stated that the mobile money service which has been operating in over 13 countries is geared towards bridging the gap between the unbanked small and micro business owners who dwell in rural areas and the technologically inclined urban dwellers.
He said: ” We are offering a very simple product; money on your mobile phone. It is our grand vision to reduce the financial divide in this great country. We are bringing millions of people in the urban areas into the financial community. We transform lives, and bring them out of poverty. We also bring convenience to the ones who are already financially included.”
According to the Group CEO, Airtel will continue to birth innovative solutions to improve the lives of consumers in line with its core mandate of transforming lives.
In his words: ” We will continue to invest in our mobile network for both mobile money and mobile telecom services in Nigeria as we continue to proffer solutions to individuals and businesses in Africa’s largest economy.
“We exist to touch lives. This purpose guides all of our activities as we deliver telecommunications services and mobile money services across the continent. For us, driving equity and financial inclusion in the continent is a core business focus which is part of our contribution to a more sustainable future.”
While expressing great delight for the noteworthy achievement, the Chief Executive officer Airtel Nigeria, C. Surendran affirmed that ‘Smartcash’ will accelerate economic growth by encouraging increased participation in mobile financial services, deposit products and payment/remittance services to small businesses, low-income households, and other financially excluded individuals through high-volume, low-value transactions in a secured, technology-driven environment.
“What we are launching today is a powerful solution that seeks to give a choice, power, access, control, empowerment and a platform to millions of Nigerians regardless of their location, financial status and tribe. It is in alignment with transforming lives” he said.
On his part, Chief Executive officer, Smartcash Payment Service Bank Limited, Muyiwa Ebitanmi noted that the platform is user-friendly, accessible and highly secured.
He said: “The goal of the new bank Smartcash PSB, is to deepen financial access and inclusion. We are not only launching a brand but expanding our footprint to reach millions of Nigerians that do not currently have access to financial services”.
Customers are required to dial *939# to access the service irrespective of location.
The colourful event had the attendance the Vice-President, Prof.Yemi Osibanjo represented by Maryam Uwais, Special Advisor to President Muhammadu Buhari on Social Investment, Governor of Lagos State, Babajide Sanwo-Olu represented by Rabiu Olowo, commissioner of Finance, Lagos state, among other notable dignitaries across the public and private sectors.
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