Airtel’s SmartCash PSB begins operation

Airtel Africa, a leading telecom and mobile money operator in Nigeria, recently launched its payment service bank subsidiary, SmartCash. The Chief Executive Officer of Airtel Africa, Segun Ogunsanya, shared insights into the company's plans to reach the unbanked population in Nigeria and revolutionize the financial services landscape in the country. With nearly half of Nigeria's population lacking access to traditional financial services, SmartCash PSB aims to bridge the gap and offer innovative financial solutions to both urban and rural areas. The company's vision is not only centered on business growth but also on positively impacting the lives of underserved communities. Ogunsanya highlighted the significant role SmartCash PSB is expected to play in Airtel Africa's business strategy, emphasizing the importance of financial inclusion in empowering individuals and driving economic growth. By leveraging the capabilities of telecom services and mobile money operations, Airtel Africa aims to touch millions of lives and advance financial prosperity in rural areas. The company believes that providing access to financial services can uplift communities and enhance overall well-being. In the dynamic landscape of the financial sector in Nigeria, SmartCash PSB faces competition from various players. Ogunsanya expressed confidence in the unique offerings and capabilities of Airtel Africa, positioning the company to effectively compete and drive innovation in the market. Airtel Africa's strategic approach involves establishing partnerships with diverse entities to create an ecosystem that fosters financial inclusion and supports the growth of the PSB segment. Despite the challenges posed by the COVID-19 pandemic, Airtel Africa remains committed to its goal of listing the mobile money business within the next four years. The company's focus on security and customer trust is paramount, with investments made in robust infrastructure and technology to ensure secure and seamless transactions for users. SmartCash PSB prioritizes user experience and data protection, maintaining a strong emphasis on safeguarding customer interests. As Airtel Africa continues its journey to transform the financial services landscape in Nigeria, the company's dedication to innovation, customer-centric solutions, and sustainable growth remains at the forefront of its operations. With a strategic vision and a commitment to fostering financial inclusion, Airtel Africa's SmartCash PSB is poised to make a lasting impact on the Nigerian economy and empower individuals across the country.