In a recent Media Roundtable hostedAirtel Africa in Lagos, it was announced that Smartcash Payment Service Bank (PSB), Airtel Africa’s fintech unit in Nigeria, has reached a milestone of 20 million accounts across the country. This achievement further solidifies Smartcash PSB’s position as a major player in Nigeria’s Digital Banking landscape.
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While the disclosure did not specify how many of these accounts are active wallets, the growth in the number of accounts is indicative of the increasing adoption of digital banking solutions in Nigeria. With the convenience and accessibility offereddigital platforms, more and more Nigerians are embracing the benefits of managing their finances through mobile apps and online platforms.
Smartcash PSB aims to promote financial inclusion on a global scale. The fintech unit recently launched an international remittance service with competitive tariffs compared to traditional means. By opening an account through a mobile number or downloading the app, customers can easily activate this service and enjoy the convenience of affordable remittance options. Additionally, Smartcash PSB takes pride in offering the best and most affordable rates in the market for sorting utility bills through its payment service app.
In addition to its success in the digital banking sector, Airtel Africa is also making significant investments in 5G network services. With over 250 5G sites ownedthe company as of 2023, Airtel Africa is committed to expanding its coverage to cities beyond Lagos and Abuja. By collaborating with technology partners, device manufacturers, and local businesses, Airtel aims to explore innovative 5G use cases such as IoT applications and smart city solutions.
Furthermore, Airtel Africa recognizes the unique needs of different sectors. The company organized a special public sector event to showcase how government agencies can benefit from data and cloud management solutions. By demonstrating how bulky data can be efficiently managed, Airtel Africa aims to support the government’s digitization agenda and provide reliable services to both SMEs and government agencies.
As Airtel Africa continues to thrive in the Nigerian market, its focus on digital banking, 5G network services, and tailored solutions for different sectors positions the company as a key player in driving financial inclusivity and digital transformation in Nigeria.
FAQ:
Q: What is Smartcash Payment Service Bank (PSB)?
A: Smartcash PSB is Airtel Africa’s fintech unit in Nigeria that offers digital banking services.
Q: How many accounts does Smartcash PSB have?
A: Smartcash PSB has reached the milestone of 20 million accounts across Nigeria.
Q: Does Airtel Africa offer 5G network services?
A: Yes, Airtel Africa has made significant investments in 5G network services and currently owns over 250 5G sites.
Q: What solutions does Airtel Africa provide to SMEs and government agencies?
A: Airtel Africa offers data and cloud management solutions to both SMEs and government agencies to support their digital transformation efforts.
Airtel Africa’s Fintech Unit Shows Strong Growth in Nigeria’s Digital Banking Landscape .
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