Mobile money is helping Airtel Africa and its rivals bounce back from Covid-19 ...Middle East

Quartz - Economy
Mobile money is helping Airtel Africa and its rivals bounce back from Covid-19
source : Quartz ( Middle East ) () 35
Mobile money is providing a much-needed revenue buffer against disruptions from the coronavirus pandemic for Africa’s big telecoms companies, such as Airtel Africa, MTN and Safaricom.This was evident in the financials for Airtel Africa, which reported this week that revenue from Airtel Africa Money had rebounded from a dip in the initial phase of the pandemic, growing 38.7% in the last quarter. The segment also contributed over 10.6% of the group’s revenue in this period. Airtel Money (Airtel Africa’s fintech arm) offers mobile wallets which allow holders to perform financial transactions on their cellphones.The company’s recent $100 million investment partnership with Mastercard will help i

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