Airtel Money registers 500,000 customers, transacts $12 million monthly

Airtel Money, a mobile money service has managed to register over 500,000 customers just 20 months (one year and eight months) in operational.

Airtel Money is Airtel Malawi mobile money service offering financial transactions to both banked and unbanked, urban and rural population customers.

According to the company’s Managing Director, Saulos Chilima, the service records financial transactions amounting to $12 million, signifying how reliable the service has been.

“As you are aware, the population that has bank accounts in the country is less than 20 percent. Having been on the ground for only 20 months, Airtel Money has already registered over half a million customers, the number is growing by day,” said Chilima.

Airtel Malawi CEO, Saulos Chilima

Through Airtel ‘Mr. Money’, which is under the service, Airtel customers are allowed to send or withdraw cash, buy airtime, buy electricity vouchers or pay bills, pay DStv and water bills among other transactions.

Chilima has since urged financial institutions like banks to integrate their platforms with Airtel Money to ensure their customers are able to benefit from the service.

“There is a need for people and institutions to take advantage of Airtel Money, not only for their own use, but also for the benefit of their corporate organizations. It’s the service that benefits everyone,” said Chilima.

Airtel Money Marketing Manager, Masiye Mazaza said the service risks of people holding stash of cash at business premises and homes that could easily be lost through unexpected circumstances.

“It’s a reliable and efficient service that works for both individual and corporate institutions. It reduces time people spend on conducting financial transactions. It makes life easier for people can make transactions even in their homes,” said Mazaza.

Airtel Malawi is part of Bharti Airtel Limited, a leading global telecommunications company with operations in 20 countries across Asia and Africa.

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