MTN Nigeria enters mobile banking deal with Ecobank

MTN Nigeria enters mobile banking deal with Ecobank

Nigeria’s largest mobile carrier, MTN said has entered into a mobile banking agreement with Ecobank.

The mobile banking deal was signed by Rob Shuter, group CEO of MTN, and Ade Ayeyemi, CEO of Ecobank.

Ecobank is a pan-African lender with roots across West, East and Central Africa where it provides commercial, investment and retail banking services.

The bank operates in 36 African countries. Ecobank said it expects digital banking platform to boost its customers to 100 million from 13 million by 2020 and that it will focus expansion on existing markets via low-cost mobile services to tap customers on lower incomes.

Under the agreement, Ecobank will leverage MTN’s subscriber base to push its mobile banking services across all the markets where the latter operates.