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MoMo Will Enable Africa’s Inbound/Outbound Transfer Capabilities

MoMo Payment Service Bank (MoMo PSB) and Saana Capital LLC (“Brij”), an International Money Transfer Operator (IMTO) licensed by the Central Bank of Nigeria (CBN), are happy to announce their strategic alliance to make bill payment services and inbound and outbound transfers throughout Africa simple and convenient.

MoMo, (PHOTO; From MTN Group Website.)
MoMo, (PHOTO; From MTN Group Website.)

The partnership between MoMo PSB and Saana Capital LLC (“Brij”) represents a significant turning point for international financial trade on the African continent.

With the help of this collaboration, MoMo PSB customers will be able to send and receive money directly from different African nations using their MoMo accounts, doing away with the need for foreign money or domiciliary accounts.

When conducting cross-border transactions within Africa, this ground-breaking offering will give MoMo PSB’s customers more ease, speed, and affordability.

In order to conveniently settle bills across various African countries, the collaboration also includes a comprehensive bill payment solution.

The function offers people and businesses a simple, effective way to fulfill their financial commitments across international boundaries, enhancing convenience and fostering economic growth.

Eli Hini, CEO of MoMo PSB, expressed his excitement about the partnership with Saana Capital LLC (“Brij”) to offer this innovative service to his company’s loyal customers. “This partnership reflects our dedication to offering cutting-edge financial solutions that meet our customers’ changing needs. With this service, we are enhancing the accessibility, effectiveness, and affordability of bill payments and cross-border transfers throughout Africa.

The CEO of Saana Capital LLC (“Brij”), Nicholas Koros, declared: “We are pleased to work with MoMo PSB in this strategic partnership. We can collectively revolutionize the way people and businesses manage their financial transactions across African borders by combining our experience in cross-border payment services with MoMo’s customer base and solid reputation. This partnership demonstrates how we both share the goal of promoting financial inclusion and promoting economic empowerment in Africa.

Customers who want to send money from Uganda or Rwanda can do so at the moment with inbound service. Customers of MoMo PSB will soon have access to outgoing transfers, inbound transfers from other African nations, as well as bill payment services.

When money is sent to their wallets from the countries listed, MoMo customers in Nigeria will receive an SMS notification. The local currency equivalent will then be credited to their MoMo wallet at the current exchange rate.

MTN customers can start by dialing *671# on their phone to open an account. You can download the MoMo mobile app from the Apple App Store or Google Play Store.

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See also EFCC arrests man over suspected currency racketeering

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Written by Grace Ene

Author for Techrectory.

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