Airtel Africa to improve mobile money business by $750 million

Airtel Africa has announced its intention to make $750 million in capital expenditure this year to grow its mobile money business across the continent as part of efforts to sustain investment in infrastructure.

The telecom giant, which has mobile connectivity in 14 countries, shared this via a media chat.

Similarly, Airtel Group Chief Executive Officer Segun Ogunsanya highlighted in an interview with Bloomberg the possibility of the Nigerian government promoting cashless payments to expand commerce.

“We are now in a very good position to take advantage of the government’s cashless policy to drive the penetration of the digital model. We have far more phones than debit cards. We are really planning to automate this feature and use this policy to promote money segregation in our customer base,” he said.

The CEO noted that the wireless operator plans to further develop its technology platform and distribution infrastructure.

Source link