Airtel Africa Gets Full CBN Licence For SmartCash PSB In Nigeria

The board of Airtel Africa Plc, on Friday announced the granting of a full operational licence for the rollout of its wholly-owned subsidiary- SmartCash Payment Service Bank Limited across the country by the Central Bank of Nigeria.

This, according to Simon O’Hara, its Company Secretary, will afford the group an “opportunity to deliver a full suite of mobile money services into Nigeria.”

More details regarding the commencement of operations, the statement said, “will be presented with our full-year results announcement in May 2022,” quoting Segun Ogunsanya, CEO of Airtel Africa as expressing delight at the approval.

“We are now working towards commencement of business,” he said, assuring that the licence enables Airtel Africa group “to expand our digital financial products and reach the millions of Nigerians that do not currently have access to traditional financial services. We are delighted to be able to pursue our shared agenda with the Nigerian Government, the CBN and traditional financial institutions to further deepen financial inclusion in the country for the benefit of all citizens and the Nigerian economy.”