Why Ecobank partnered MTN on financial inclusion

ITREALMS:

The MTN has explained its recent collaboration with Africa’s leading independent banking group, Ecobank Transnational Incorporated (ETI), reports ITRealms.

This, ITRealms gathered, would enable both companies  to leverage each other’s assets that will ultimately offer more value to their respective customers across the continent.

ITRealms reports that MTN prides self with the large subscriber base, comprehensive distribution, innovative digital products and drive for mobile financial services are being linked with Ecobank’s trail blazing digital banking products to provide instant bank accounts and remittances through Africa’s largest bank by network.

The two entities, with an extensive footprint on the continent, have signed a Memorandum of Understanding to develop this partnership agreement, which will allow them to innovate and enhance access to affordable financial services via MTN Mobile Money and Ecobank Banking services.

This includes, ITRealms reports include that enabling Ecobank and MTN Mobile Money customers to transfer money between mobile money wallets and bank accounts.

Leveraging of Ecobank and MTN’s assets to digitise international remittance, foster product innovation in the field of mobile saving and lending, and offer digital payment solutions to consumers, merchants and corporates.

Ade Ayeyemi, Group CEO of Ecobank said “The changing landscape of digital banking and mobile telephony is creating unique opportunities in the way and manner customers are served. Africa will need to digitise financial services to rapidly scale up client acquisition and patronage. MTN and Ecobank are taking the big step today at this grand event to support this agenda”

Further he reiterated that “Ecobank’s digital strategy has long been committed to ensuring transaction convenience for the market. We have made giant strides in our mission to ensure financial inclusion and today’s agreement with MTN will greatly accelerate the easy availability of banking services to the previously unbanked.”

For the MTN Group President and CEO, Rob Shuter, “Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem, hence our long-standing partnership with Ecobank in many of our markets aimed at driving financial inclusion. We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.”

Chuks Egbune/ED, OPs

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Intel prepares NYSC members on tech entrepreneurship

L-R: Mr. Toni Oviosun,Project Manager NYSC; Mrs. Angela Okoh,

Business Development Manager NYSC; Mr. Osagie Ogunbor,

Corporate Affairs Manager Intel Corporation at the Intel-sponsored

 free Technology & Entrepreneurship Training in Lagos recently.

Committed to the development of the youth in the country, Intel West Africa has partnered the National Youth Service Corp (NYSC) to train the members of the corp as its part of Corporate Social Responsibility (CSR).

The session tagged Technology and Entrepreneurship, according to the Corporate Affairs Manager, Intel, Mr. Osagie Ogunbor, said that as part of its commitment to national building.

He also disclosed that the one-week free training is the first of several that will stretch across other states of the Federation with Lagos being the initial state in the pilot phase.

“The Training of Youth Corp Members is part of Intel’s Corporate Social Responsiveness to the educational needs of our society. The week long free training strives to equip youth corps members with necessary skills to cope in the 21^st Century workplace taking them through an intense technology-entrepreneurship scheme.” Said the Corporate Affairs Manager, Intel West Africa, Osagie Ogunbor in his opening address that flagged off training activities, last Tuesday.

Ogunbor noted that the initiative more than anything, was birthed out of the necessity to stimulate interest in entrepreneurship towards establishing businesses and ultimately reducing the increasing unemployment problem in Nigeria.

“The changing trends in the global economy are increasingly becoming knowledge-based being driven by advances in Information and Communication Technology and this has significantly raised the stakes in the labour market.” Ogunbor said.

Additionally, he noted that as graduates prepare to enter the labour market, the possession of technical knowledge on its own, would not suffice, but ownership of complementary life skills to deliver the highest possible value in any field of endeavor was the ultimate task.

Ogunbor informed ITRealms that Intel is working closely with the Youth Enterprise With Innovation In Nigeria (YOUWIN) to further encourage the growth of individual businesses as part of a solution to unemployment. Courtesy of YOUWIN,  the youth corpers being trained are entered into a business plan competition where they stand a chance of getting seed capital for businesses they may want to set up.

Mr. Ogunbor, this initiative is just one of several other technology/education based initiatives championed by Intel towards improving the quality of life of people around the world. 

Remmy Nweke
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