Airtel Money Teams Up with Small Banks to Revolutionize Kenya’s Mobile Money Landscape

Airtel Money has partnered with some of Kenya's microfinance and commercial banks in strategic collaborations to boost its mobile money services. At Rafiki Microfinance Bank, Access Bank, Bank of Africa (BOA), and Kenya Women Microfinance Bank (KWFT) branches, Airtel Money customers can now withdraw and deposit cash. The collaborations are intended to boost Airtel Money's coverage, taking advantage of the wide branch networks of the banks, such as KWFT's 229 branches. This comes after Airtel Money's previous partnership with Naivas supermarkets, whose outlets were converted into Airtel Money agents. The firm continues to add value to services such as free transfers within its network and offers such as "Rudishiwa Transaction Fee," whereby the customer is reimbursed airtime for withdrawal charge. Airtel Money's market share has grown significantly, with 8.9% of Kenya's mobile money subscribers as of December 2024, compared to 2.9% a year earlier. This increase demonstrates the company's aggressive foray into a market long dominated by Safaricom's M-Pesa. Source: Business Daily Africa