Under the framework agreement, MFS Africa will connect mobile wallet customers across networks and countries in sub-Saharan Africa, enabling international money transfer to anyone with a mobile phone.
The partnership between MFS Africa and Vodafone Group aims to cover other global networks, following local implementation. MFS Africa Hub claims it already reaches approximately 65 million mobile wallet users across Africa via partnerships with other mobile money operators and mobile networks. The Hub is also integrated to a growing number of global money transfer companies, allowing diaspora senders to transfer money to any connected mobile wallet.
What’s more, MFS Africa also intends to reduce intra-African remittance costs to a single-digit percentage.
MFS Africa was selected as the integrating partner for Vodafone’s interconnections to MTN operations in East Africa in April 2015, currently enabling transfers between Kenya and Rwanda.
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