Speaking in Dar es Salaam this week, Airtel Tanzania Limited’s Communications and Regulatory Affairs Director, Beatrice Singano said the company continues to lead in servicing more cross-border money transfer corridors.
“Launching transactions between Kenya and Tanzania will make it more convenient for individuals to transact across borders and unleash the transformative power of a first of its kind cross-border payment network,” Singano said.
She said Airtel Money customers will now be able to send and receive money from Kenya, in a move that is aimed at deepening financial services, a further boost to the regional integration agenda. The move will benefit over eight million Airtel Money subscribers in the country.
“Airtel money is increasingly becoming an attractive and more inclusive operator, in offering faster, convenient and safe, cross boarder remittance. The service is affordable with the most competitive fees compared to other international money transfer methods,” the Airtel Tanzania Communications Director added while noting that the recipients on both sides of the border will get the money instantly in local currency once the transaction is confirmed.
Seconding Singano’s observation, Airtel Money Manager, Fidelis Mwebesa said an analysis of the World Bank data last year indicated that over 5.3trn/- was sent from Tanzania to Kenya during the period.
“The estimates however, would translate into even larger amounts after considering sums transacted through informal channels including traditional bus transfers and friends who risk loss of the money or late delivery,” Mwebesa said pointing out that the latest service simplifies the cross border transaction through the two sister companies.
Currently, Airtel Money customers are already receiving money directly to their mobile phones, from Airtel Tanzania’s sister operators in Zambia and Malawi and from numerous money transfer operators across the world including, Qatar, Oman, South Africa, United Kingdom, Seychelles, and United Arab Emirates, he added while stating that the company’s subscribers can also send and receive money from peers in Rwanda.