Airtel has also simplified its mobile money tariffs by reducing the transaction bands from the previous 20 to 12 bands. This will make it easier for customers and agents to understand and interpret the transaction costs.

Before joining Airtel in 2012, Segun held leadership roles at Coca-Cola in Ghana, Nigeria, and Kenya (as MD and CEO). He has also been the Managing Director of Nigerian Bottling Company Ltd (Coca-Cola Hellenic owned) and Group head of retail banking operations at Ecobank Transnational Inc, covering 28 countries in Africa. He is an electronics engineer and also a chartered accountant.

The transaction is the latest step in the group’s pursuit of strategic asset monetization and investment opportunities. Airtel Africa says it is exploring the potential listing of the mobile money business within four years. The Group is in talks with other potential investors in relation to possible further minority investments into Airtel Money, up to a total of 25% of the issued share capital of AMC BV. But there is certainty that a transaction will be concluded or as to the final terms of any transactions.

Once Airtel Money customers receive the funds, they can be accessed immediately to be spent on various needs.

Mobile banking transfers between Airtel Money and Standard Chartered Bank are now live in Kenya

Mastercard virtual card allows Airtel Money customers to make payments to local and global online merchants that accept Mastercard cards.