Coronation Group, Access Holdings, Safaricom and M-PESA Africa are working together to make it easier and cheaper to send money between East and West Africa.
The collaboration will leverage the strengths of each company:
- Access Holdings’ banking network across 14 African countries
- Coronation Group’s financial services in West Africa
- M-PESA’s mobile money platform with over 60 million customers
- Safaricom’s telecommunications reach in Kenya
The initial focus will be on Nigeria, Kenya, Ghana, and Tanzania.
Regulatory approvals are still needed, but the companies are committed to following regulations and creating a system that benefits both individuals and businesses, and contributes to Africa’s economic growth.