Zain’s money transfer service reaches West Africa

www.WirelessFederation.com/news: After a huge success of the concept of mobile money transfer in East Africa and particularly Kenya, Zain has announced to expand its mobile commerce service Zap to Niger, Sierra Leone and a full commercial pilot project in Malawi.

With this move, six African markets would be covered by the service with a combined population of 150 million people. The concept launched in February last year would complement the financial services sector in the continent as the mobile phone users will be able to send and receive money, pay for services as well as interact with their bank accounts using the service.

According Saad Al Barrak, Zain Group chief executive, the expansion of the service is an important step in pushing the boundaries of mobile communications and with the kind of impact the Zap had in Kenya, Tanzania and Uganda, similar impact is hoped by Zain in Malawi, Niger and Sierra Leone, where formal banking services are largely restricted to urban hubs.

Zain has entered into a partnership with the National Bank of Malawi (NBM) and NBS Banks in Malawi, EcoBank in Niger and Zenith Bank in Sierra Leone besides working with Citibank and Standard Chartered in East Africa.