Airtel Africa storms Nigerian markets with Smartcash payment service bank

Smartcash PSB PIC 2: L-R: Lagos State Commissioner of Finance, Dr. Rabiu Olowo; Group Chief Executive Officer, Airtel Africa, Dr. Segun Ogunsanya; Special Advisor to the President on Social Investments, Mrs. Maryam Uwais and Chief Executive Officer, Smartcash PSB, Mr. Muyiwa Ebitanmi at the launch event of Smartcash PSB at Eko Hotel and Suites, Victoria Island, Lagos on Thursday, June 30, 2022.

Smartcash PSB PIC 1: L-R: Chairman of Smartcash PSB Ltd, Dr. Kingsley Umadia; Lagos State Commissioner of Finance, Dr. Rabiu Olowo; Chief Human Resources Officer, Airtel Africa, Rogany Ramiah; Group Chief Executive Officer, Airtel Africa, Dr. Segun Ogunsanya; Special Advisor to the President on Social Investments, Mrs. Maryam Uwais;Managing Director & Chief Executive Officer, Airtel Nigeria, Surendran Chemmenkotil and Chief Executive Officer, Smartcash PSB,Muyiwa Ebitanmi at the launch event of Smartcash PSB at Eko Hotel and Suites, Victoria Island, Lagos on Thursday, June 30, 2022.

By allcitynews.ng

In its fresh attempt to satisfy its numerous customers, Airtel Africa, a leading provider of telecommunications and mobile money services with a presence in 14 countries across Africa, has launched SmartCash Payment Service Bank.

This is its wholly-owned subsidiary, meant to provide secure and reliable financial services across Nigeria.

Headquartered in Lagos, it is accepting deposits from individuals and small businesses, carrying out payment and remittance services within Nigeria, and issuing debit and prepaid cards among other banking services.

SmartCash also enables person-to-person payment and transfers from across the world.

Airtel Africa’s Group Chief Executive Officer, Segun Ogunsanya who made this known claimed that the service is currently available at selected retail touchpoints.

In addition Ogunsanya stated that plans are underway to expand the innovative, technology-driven services to all parts of the country, including the furthest and most remote, in an effort to accelerate financial inclusion for all Nigerians.

The launch, according to him is based on the granting of a license by the Central Bank of Nigeria (CBN).

Already, SmartCash targets reaching the 36.8 per cent unbanked adult population in Nigeria, as estimated by the Access to Financial Services in Nigeria report.

Furthermore Ogunsanya said:
“The launch of SmartCash Payment Service Bank gives us fresh impetus at Airtel Africa, to continue growing our footprint in the continent and delivering innovative solutions.

In the bank, we have the best of both worlds, a hybrid of commercial bank and mobile financially services, offering last mile connection to the financially excluded.

“Through it, we want to contribute towards driving financial inclusion in Nigeria, to empower Nigerians while transforming the payment landscape in Nigeria and the rest of Africa.’’

Similarly, in his speech, the Chief Executive Officer & Managing Director of SmartCash Payment Service Bank, Muyiwa Ebitanmi, said: “Through SmartCash Payment Services Bank, we aim to bridge the financial divide by providing rural and urban Nigerians access to innovative, highly secured and reliable banking services that is powered by technology and is relevant to their needs”.