Airtel Africa Plc, has received an Approval-In-Principle for its subsidiary Smartcash Payment Service Bank Limited to begin operations in the country from the Central Bank of Nigeria (CBN).
A statement on the Nigerian Exchange Limited platform by Simon O’Hara, the Airtel Africa’s company secretary, said final approval “is subject to the Group satisfying certain standard conditions within six months.”
Segun Ogunsanya, Chief Executive of Airtel Africa,expressed pleasure at the approval, pledging the group’s readiness to work “closely with the Central Bank to meet all its conditions to receive the operating licence and commence operations.
He added:“The final operating licence will enable us to expand our digital financial products and reach the millions of Nigerians that do not have access to traditional financial services.I am looking forward to working closely with the government, the central bank, and traditional financial institutions to expand financial inclusion and meet the evolving needs of our customers and the economy,“ he stressed.
