In order to deepen their financial penetration across Africa, Global Technology Partners (GTP) and MFS Africa have entered into a partnership.
In the partnership, MFS Africa will leverage GTP’s prepaid platform and Pan-African network of BIN sponsors to launch virtual and physical prepaid / companion cards to a large number of mobile wallet owners. This relationship will also facilitate the funding of prepaid cards across the continent using mobile wallets and bank accounts.
“57% of Africans don’t have access to basic banking and that statistic also hides a gender gap – in Sub-Saharan Africa, only 37% of women and 48% of men have a bank account. Historically, Africa has a low density per capita of bank branches and this is even more pronounced in rural areas.”
In a Statement Released to the Media
“One of the key strategies we have had from the onset is to connect Africans with financial services that speak to their everyday lives. This relationship is adding another layer to this as it affords wallet holders the ability to purchase domestically and internationally from millions of merchants.”
Dare Okoudjou, MFS Founder & Chief Executive Officer
In March this year MFS Africa announced that it had reached over 320 million mobile money wallets on the continent.
