Latest news with #mobilemoney
Finextra
29-05-2025
- Business
- Finextra
Terrapay enables ccross-border remittances for Wave Mobile Money users in Mali
In a strategic move to enhance cross-border remittance services in West Africa, TerraPay, a global money movement company, has partnered with Wave Mobile Money, one of the country's leading mobile money providers. 0 This partnership enables Malians to receive money from family and friends abroad directly into their Wave mobile wallets, creating a faster, more accessible, and cost-effective way to access international remittances. Through this collaboration, TerraPay's global payment network now facilitates remittance flows from multiple Money Transfer Operators (MTOs) across the US, Canada, and Europe to Mali, all through a single streamlined integration. This unique model ensures that all Wave users in Mali can instantly receive funds, further strengthen financial inclusion and offer a secure alternative to informal remittance channels. Over 80% of Mali's population uses mobile phones, with many using them for mobile money and digital wallets. In the region, digital wallets are an essential tool for financial inclusion, providing access to financial services for millions of people, especially those who are unbanked. With mobile money platforms leading the way, the landscape is evolving rapidly. Speaking on this partnership, Karamokho Badiane, Regional Head of Business Development at Wave Mobile Money said: 'We are excited to join forces with Orabank Mali and TerraPay to revolutionize payment solutions and enhance financial accessibility for our customers. This strategic collaboration allows us to harness TerraPay's global payments infrastructure alongside Orabank Mali's deep expertise in remittance services, empowering us to expand our reach and provide even greater value to our users. Our shared commitment to financial inclusion will help break down barriers and offer more accessible solutions for individuals across the country. With TerraPay's cutting-edge technology ensuring safe and reliable money transfers, we are confident that this initiative will play a crucial role in fostering economic growth and financial empowerment.' Willie Kanyeki, Vice President - Sub Sahara Africa at TerraPay, echoed this sentiment, saying, 'Our partnership with Wave Mobile Money marks a significant milestone in our mission to power the borderless money movement. By enabling instant, cost-effective, and fully compliant remittances from key markets like the US, Canada, and Europe, we are simplifying financial access and driving financial inclusion in Mali.' With this partnership, TerraPay and Wave Mobile Money are making it easier than ever for Malians abroad to support their families back home, reinforcing the role of digital financial services in shaping the future of remittances in West Africa.
Zawya
09-05-2025
- Business
- Zawya
Airtel Money IPO slated for H1 2026: IFR
An IPO of Airtel Money could come next year, parent Airtel Africa said on Thursday alongside the release of financial results that prompted a slump in its share price. Airtel Africa's London-listed shares were down 8.1% at 156.5p after 3pm in London, having been down as much as 10.8%, following results for the year to March 31 showing an 11.1% fall in operating profit to US$1.46bn. Chief executive Sunil Taldar said the company is making 'significant progress in our preparations for the Airtel Money IPO and remain committed to this objective. However, we are also mindful of evolving market conditions". The listing is being prepared for the first half of next year. Reports in 2024 of a potential IPO for the mobile money unit suggested a valuation of around US$4bn. Mobile money revenue was US$994m for the year, up 18.8% and 29.9% on a constant currency basis, and underlying Ebitda was US$525m for the year, giving a margin for the unit of 52.8%. Mobile money subscribers increased 17.3% to 44.6 million at the end of March compared with a year earlier and the annual transaction value increased to US$136.5bn, a 32% increase at constant currencies. Airtel Africa floated in London for £541m in June 2019 with a £3.1bn market capitalisation after pricing at 77p per share. The market cap is now around £5.8bn. Airtel Africa has also carried out IPOs for Airtel Malawi in 2020 and Airtel Uganda in 2023.
Reuters
08-05-2025
- Business
- Reuters
UK's Airtel Africa to list Airtel Money in first half of 2026
A woman speaks on her cellphone as she walks past a mobile phone service centre operated by Kenyan's telecom operator Airtel Kenya in downtown Nairobi, Kenya July 15, 2021. REUTERS/Thomas Mukoya/File Photo Purchase Licensing Rights , opens new tab May 8 (Reuters) - Britain's Airtel Africa (AAF.L) , opens new tab on Thursday said it expects to list Airtel Money, its mobile money services unit, in the first half of the calendar year 2026. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by Yamini Kalia in Bengaluru Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
