Posted on March, 11, 2024 at 09:35 am
MTN’s Mobile Money (MoMo), and the West Africa Association for Cross-Border Trade in Food, Agro-sylvo-pastoral and Fishery Products (WACTAF/AOCTAH) collaborated on an awareness session, to empower traders with a revolutionary new approach to cross-border transactions.
MTN said: “traditionally, cross-border transactions have been hampered by cumbersome procedures, lengthy turnaround times, and complex currency exchanges.
“The partnership addresses these challenges head-on. MoMo’s established presence in several African nations, including Nigeria, Ghana, Kenya, Malawi, and South Africa, provides a secure and convenient alternative. By leveraging the power of mobile money technology, MoMo eliminates the complexities of traditional methods, enabling faster and more efficient cross-border transactions.”
The awareness session, led by executive president, WACTAF, Alhaji Salami Alasoadua and senior officials from MoMo, including general manager, Business Development & Expansion, MTN Group FINTEC, Adoma Owusu; executive, remittance and FINTECH Business Development, MTN Group FINTECH, Etienne Ardon; manager, Communications, MoMo PSB, Abiodun Odelola; among others, generated significant interest among the attending traders.
Speaking on the partnership, CEO of MoMo PSB Nigeria, Eli Hini stated that this collaboration with WACTAF/AOCTAH is a strategic move that will support the digital advancements and financial inclusion we are currently witnessing in Africa.
“We are excited about this partnership because of its impact on our drive for financial inclusion and ease of payment in Nigeria and cross border. By introducing digital tools like MoMo into the hands of traders, we are making cross-border trade more efficient and accessible.
“This initiative is not just about facilitating transactions; it’s about revolutionizing trade across our continent. We’re not simply changing how trade is conducted; we’re stimulating economic growth and fostering a prosperous, interconnected Africa,” Hini added.
MTN said; “with MoMo and WACTAF/AOCTAH working in tandem, a wave of digital transformation is poised to empower traders across Africa, fostering faster trade cycles, reduced costs, and ultimately propelling continental economic growth. This collaboration sets a precedent for leveraging technology to streamline trade, paving the way for a more prosperous and interconnected African economy.”
It explained that, “this collaboration sets a precedent for leveraging technology to streamline trade and unlock its full potential. By embracing digital solutions like MoMo, traders across Africa can benefit from faster, more efficient, and cost-effective cross-border transactions, ultimately propelling the continent’s economic growth.”
The training session witnessed a sense of excitement as the MoMo team guided traders through the onboarding process. Many readily signed up for MoMo wallets, eager to embrace this new era of digital commerce
Source: Leadership