TechInAfrica – MTN is releasing a new application called MTN Homeland, which will help facilitate money and airtime transfer from Europe to Africa and some parts of the Middle East. The mobile remittance app is part of MTN’s efforts to enhance access to digital and financial services for its customers.
Group President and CEO Rob Shuter commented on the innovation, saying that the value of remittances from the diaspore exceeds Foreign Direct Investment in Africa. He also noted MTN as the largest Fintech and Telecommunication footprint in Africa and is therefore uniquely positioned to go beyond mobile communication by offering instant, low-cost digital remittances. “MTN Homeland is one more example of how MTN uses Fintech to expand its reach beyond its existing footprint and core business while driving meaningful impact to millions,” Rob further explained.
The remittances can be performed from the following countries: Europe to Cameroon, Congo Brazzaville, Ghana, Guinea Conakry, Rwanda and Uganda, while airtime can be sent to Afghanistan, Benin, Botswana, Cameroon, Congo Brazzaville, Ivory Coast, Ghana, Guinea Bissau, Guinea Conakry, Liberia, Nigeria, Rwanda, South Africa, Swaziland, Uganda, Yemen and Zambia.
Another contribution of the app is its support of MTN toward the tenth UN Sustainable Development Goal, which seeks to hit a 3% mark of reduced remittances price into Africa, and the app itself has been priced in regards to the goal of reducing the current inequality within and among countries.
Serigne Dioum, the MTN Executive for Fintech believe the positive impact the app has been nurturing for a while, saying, “We believe this offering will not only make the lives of our mobile money customers on the African continent a whole lot brighter but those in the diaspora too.” Dioum added that the company is working towards enabling remittances from the US, Australia, UAE, and other corridors into Africa.”