Airtel Africa Gets Super Agent License To Boost Financial Inclusion
The Central Bank of Nigeria (CBN) has granted a super agent license status to one of the subsidiaries of Airtel Africa Plc, Airtel Mobile Commerce Nigeria Limited.
The super agent license which is different from the payment service bank (PSB) license received by the telecom firm in November 2021 is the authorisation to recruit agents for agency banking that are to provide financial services within communities on behalf of banks.
Airtel in a statement on Tuesday said the super agent license would enable the Telco create an agency network that can service the customers of licenced financial institutions like Nigerian banks, Payment service banks and licenced mobile money operators in Nigeria.
“Further to our announcement of 15 November 2021, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today confirms that the Central Bank of Nigeria (‘CBN’) has awarded its subsidiary, Airtel Mobile Commerce Nigeria Ltd, with a full super agent licence,” Airtel announced.
“The licence allows us to create an agency network that can service the customers of licenced Nigerian banks, payment service banks and licenced mobile money operators in Nigeria,” it added.
Airtel Africa had on November 15th 2021 announced that one of its subsidiaries, Airtel Mobile Commerce Nigeria Ltd, was awarded a super agent approval in principle by the Central Bank of Nigeria (CBN) .
The company stated that the payment service will be operated by its subsidiary SMARTCASH Payment Service Bank Limited.
Earlier, Airtel had received a PSB licence which is required for the telecom company provide financial services in Nigeria such as accepting cash deposits and carrying out payments and remittances, issuing debit and prepaid cards, operating electronic wallet and rendering other financial services.
CBN had In recent times, issued PSB licenses to boost financial inclusion in Nigeria. Earlier in the year, Airtel’s main rival, MTN Nigeria received a payment Banking approval, having been among the first to receive a super agent license back in 2019.
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