MTN grows Mobile Money channel in Zambia

Mobile operator MTN Group says that its Mobile Money service is now available through an ‘extensive’ MTN agent network and Banc ABC branch network in Zambia.

It follows the issue of a full commercial Mobile Money license to MTN Zambia by the Bank of Zambia in January, after a successful pilot project which has netted over 170,000 MTN Mobile Money customers since the pilot began in July 2011.

In the same period, MTN Zambia acquired a network of 340 MTN Mobile Money agents across the country and continues to focus on convenient accessibility, the group said.

In terms of the strategic partnership with Banc ABC, MTN customers will be able to load and withdraw money from their mobile phones using MTN Service Centres, MTN agents, Connect Stores and the Banc ABC branch network.

“The phenomenal uptake of Mobile Money in Zambia is a clear indication that an increasing number of Zambians are excited to finally have the ability to conduct financial transactions through their mobile phones. As MTN, we are equally excited to be able to give them that ability, and the convenience that comes with it,” said Christian de Faria, group commercial officer for the MTN Group.

MTN Mobile Money creates a safe environment for the banked and unbanked portion of the population to perform basic banking transactions.

MTN has  deployed its MTN Mobile Money service in 11 other markets, including Uganda, Swaziland, Ghana, Cote d’Ivoire, Cameroon and Rwanda.

The launch of the MTN Mobile Money service with Banc ABC will enable MTN subscribers to open a mobile money account at any of the bank’s 19 branches and 10 mobile banks across Zambia. Subscribers will upon registration be able to load and store electronic money on their mobile phones and use their mobile number as an account number.

MTN Mobile Money is currently being utilised by over six million customers across the MTN footprint with over 2 million of those users in Uganda.

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MTN grows Mobile Money channel in Zambia