Can the partnership bring back banking services to the people across east africa?
Monitise, a provider of mobile banking technology, has formed a partnership with E-Fulusi Africa, a Tanzanian mobile wallet provider.
Under the partnership, the two companies will work together to provide a fully integrated service that will help bring banking services to the people across east Africa that are currently unbanked.
Monitise East Africa will initially offer services in Uganda, where it will have its headquarters in Kampala. In due course the service will expand into neighboring countries, including Burundi, Democratic Republic of Congo, Ethiopia, Kenya, Rwanda, Tanzania and Zambia.
Nadeem Juma, managing director of E-Fulusi Africa, said: By working with Monitise, we have an opportunity to help transform the lives of millions of people across east Africa. Together we will deliver a highly inclusive service that works across the widest range of networks, banks and phones. Monitise’s experience in delivering this across the UK and North America combined with our expertise means that the service has the potential to bring a savings and banking culture to millions of people across the region.
Alastair Lukies, CEO of Monitise, said: By partnering with E-Fulusi Africa which has already improved the lives of people in Tanzania, we have created a service with the needs of African people at its heart. Our strategy has always been to work with key partners in each region that we operate. By bringing our service together with E-Fulusi Africa’s, I firmly believe that we have an opportunity to deliver a service that can help trigger considerable economic growth across the region.