MICROCAPITAL BRIEF: Airtel, MTN Group Partner to Provide Mobile Money Transfers Between Burkina Faso, Ivory Coast

Airtel Burkina Faso, a subsidiary of India-based telecommunications company Bharti Airtel, and Mobile Telecommunication Network (MTN) Group, a telecommunications company based in South Africa, recently announced a partnership that will allow their mobile money customers to transfer funds between Burkina Faso and the Ivory Coast. The service is aimed to facilitate remittances sent by Burkinabe living in the Ivory Coast. MTN’s mobile money service has 15 million users in 14 countries and Airtel Money has reached 7.5 million customers across 16 countries. The Central Bank of West African States reportedly is participating in enabling the service.

Bharti Airtel is based in New Delhi, India, and reported 287 million customers in 20 countries as of 2013. MTN Group is a telecommunications company based in the city of Johannesburg, South Africa. The company reported 120 million total customers as of 2013 in 21 countries.

By Juan Blanco, Research Associate

About Bharti Airtel

Founded in 1995, Bharti Airtel (Airtel) is an Indian telecommunications company headquartered in New Delhi, India. Airtel operates Airtel Money, whereby users can transfer money, pay bills and perform financial transactions directly from their mobile phones. As of August 2012, Airtel’s total assets were at USD 636 billion. As of December 2013, Airtel claimed approximately 287 million subscribers in 20 countries across Africa and Asia.

About MTN Group

Established in South Africa in 1994, Mobile Telecommunications Network Group (MTN) is a multinational telecommunications provider that provides voice and data communication services to individuals and businesses. MTN also operates MobileMoney, a money-transfer service that can be used on cellular devices. MTN reported total revenue of ZAR 135 billion (USD 13 billion) total assets of USD 21 billion as of 2013. MTN has approximately 120 million subscribers in 21 countries in Africa and the Middle East as of July 2013.

[1] Business Standard, “Bharti Airtel, MTN to provide mobile money service in West Africa,” April 8, 2014, http://www.business-standard.com/article/companies/bharti-airtel-mtn-to-provide-mobile-money-service-in-west-africa-114040800663_1.html

MicroCapital Story, March 10, 2014, “Airtel Zambia to Include Life Insurance Coverage In Mobile Subscriber Plans,” https://www.microcapital.org/microcapital-brief-airtel-zambia-to-include-life-insurance-coverage-in-mobile-subscriber-plans/

MicroCapital Story, January 22, 2014, “Airtel, Nico Insurance Zambia to Offer Mobile Insurance,” https://www.microcapital.org/microcapital-brief-airtel-nico-insurance-zambia-to-offer-mobile-insurance/

MicroCapital Story, August 23, 2013, “Mobile Telecommunications Network (MTN) Ghana Launches “ATM Cash Out” Service to Mobile Money Subscribers,” https://www.microcapital.org/microcapital-brief-mobile-telecommunications-network-mtn-ghana-launches-atm-cash-out-service-to-mobile-money-subscribers/

MicroCapital Story, July 30, 2013, “Ecobank, Lonestar Cell MTN Launch “Mobile Money School Fees Payment Service” in Liberia,” https://www.microcapital.org/microcapital-brief-ecobank-lonestar-cell-mtn-launch-mobile-money-school-fees-payment-service-in-liberia/

MicroCapital Universe Profile: Bharti Airtel, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bharti+Airtel

MicroCapital Universe Profile: MTN Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mobile+Telecommunications+Network+%28MTN%29

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