Africell has launched its mobile financial services platform, Afrimoney, in Angola, offering mobile financial tools to the country’s large unbanked population, and creating income opportunities for thousands of agents. Afrimoney has the potential to bring millions of people into the formal economy, linking everything together and having a huge impact on both Africell’s business and Angola’s economy. The launch is a significant milestone for Africell, which only started mobile network services in Angola in April 2022.
Facts
- Afrimoney, Africell’s mobile financial services platform, has been launched in Angola, offering financial tools to the country’s large unbanked population.
- Angola’s mobile money industry has more scope for growth than most countries in sub-Saharan Africa.
- The launch of Afrimoney has been conducted in close collaboration with the National Bank of Angola (BNA).
- In time, the Afrimoney platform intends to incorporate financial services including credit, saving,s and insurance.
- Africell is the only US-owned network operator in Africa, with the U.S. government (through the U.S. Development Finance Corporation, or DFC) as its biggest external investor.
- Africell started mobile network services in Angola in April 2022 and the launch of Afrimoney only a year later is a significant milestone.
- Afrimoney has the potential to bring millions of people into the formal economy, linking everything together and having a huge impact on both Africell’s business and Angola’s economy.
