Coronation Group, Access Holdings Plc, Safaricom Plc and M-PESA Africa have partnered to broaden access to remittances across Africa.
The parties aim to explore solutions that will provide a remittance corridor between East and West Africa,
connecting some of the continent’s largest economies.
Aigboje Aig-Imoukhuede, Chairman of Access Holdings and Coronation Group, emphasised the ethos of empowerment that forms the foundation of this collaboration.
“We stand at the threshold of an extraordinary journey, one poised to shape the financial landscape of Africa. This partnership encompasses more than a convergence of capabilities; it signifies the fusion of collective expertise, resources, and an unwavering commitment to drive financial inclusion, empowering millions throughout Africa,” said Imoukhuede.
“Through collaborative innovation, shared vision, and resolute determination, we are primed to unlock unprecedented opportunities, transform lives, and make an indelible imprint on Africa’s trajectory,” he added.
Sharing insights into the transformative potential of the collaboration, Bolaji Agbede, Acting Group Chief
Executive Officer of Access Holdings Plc affirmed that the deal is poised to recalibrate the trajectory of financial services in Africa.
“By combining our strengths with those of Coronation Group, Safaricom and M-Pesa Africa, we will deliver on our promise of sustainably impacting our stakeholders, empowering individuals, and significantly contributing to the continent’s economic ascension,” said Agbede.
M-Pesa Africa Managing Director (MD) Sitoyo Lopokoiyit noted that the collaboration, which seeks to explore remittance corridors between East and West Africa, will bring alive the African Continental Free Trade Area (AfCFTA) spirit.
The initial phase of the collaboration will concentrate on pivotal markets, including Nigeria, Kenya, Ghana and Tanzania.
“We will be collaborating with M-PESA Africa, Coronation Group and Access Holdings to explore secure, convenient, and affordable remittance solutions that will connect our customers to opportunities in West Africa,” said Safaricom PLC CEO Peter Ndegwa.
“Africa remains an underserved region, especially for remittances within the continent making such partnerships crucial in closing the gap,” added Ndegwa.
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