Payment service bank license in Nigeria

RNS Number : 4319R
Airtel Africa PLC
05 November 2021
 

 

Airtel Africa plc

('Airtel Africa', or the 'Group')

 

Approval in principle for service bank licence in Nigeria

 

London and Lagos, 05 November 2021: Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its subsidiary SMARTCASH Payment Service Bank Limited ("Smartcash") has been granted approval in principle to operate a payment service bank business in Nigeria.

 

Final approval is subject to the Group satisfying certain standard conditions within six months.

 

Segun Ogunsanya, CEO, Airtel Africa, said:

 "I am very pleased that Smartcash has been granted an approval in principle to operate a service bank business in Nigeria. We will now work closely with the Central Bank to meet all its conditions to receive the operating licence and commence operations. The final operating licence will enable us to expand our digital financial products and reach the millions of Nigerians that do not have access to traditional financial services. I am looking forward to working closely with the Government, the Central Bank and traditional financial institutions to expand financial inclusion and meet the evolving needs of our customers and the economy."

 

-ENDS-

 

Enquiries

 

Airtel Africa - Investor Relations

Pier Falcione

Morten Singleton

Investor.relations@africa.airtel.com

 

+44 7446 858 280

+44 7464 830 011

+44 207 493 9315



Hudson Sandler

Nick Lyon

Bertie Berger

airtelafrica@hudsonsandler.com

 

 

 

+44 207 796 4133

 

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services, both nationally and internationally.

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

For more information visit www.airtel.africa

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFZMGMZDZGMZZ
UK 100

Latest directors dealings