Posted on March, 13, 2024 at 09:33 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) recently teamed up on an awareness session to empower traders with a revolutionary new approach to cross-border transactions.
The partnership seeks to address issues such as cumbersome procedures, lengthy turnaround times, and complex currency exchanges that usually constrain the smooth flow of cross-border transactions.
MoMo’s established presence in several African nations, including Nigeria, Ghana, Kenya, Malawi, and South Africa, poses a secure and convenient alternative. By leveraging the power of mobile money technology, it eliminates the complexities of traditional methods, enabling faster and more efficient cross-border transactions.
The awareness session, led by the Executive President, WACTAF Salami Alasoadua, and senior officials from MoMo, including General Manager, Business Development and 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.
Commenting on the partnership, CEO of MoMo PSB Nigeria, Eli Hini, expressed enthusiasm for the partnership’s potential to transform cross-border trade across Africa. “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 across borders. By introducing digital tools like MoMo into the hands of traders, we’re 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.”
The session witnessed a palpable 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. While the activation event took place at the ECOWAS Loading Point, Ebute Ero, Lagos, it signifies the beginning of a wider initiative. It sets a precedent for leveraging technology to streamline trade, paving the way for a more prosperous and interconnected African economy.
Source: This Day Live