African telcos finally get their big fintech prize

Africa’s telecoms companies are finally getting their hands on the continent’s big fintech prize, writes edwardcropley

MTN and Airtel Africa on Nov. 5 said Nigeria’s central bank had granted the telecommunication companies “approval in principle” to operate mobile payment services in Africa’s most populous nation.

London-listed Airtel Africa said full approval for a financial services licence was subject to the company fulfilling “certain standard conditions” within six months. The central bank made no announcement.Source: REUTERS/Temilade Adelaja An MTN customer care staff attends to a client in an MTN service bus in Lagos, Nigeria, August 28, 2019.

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