Coronation Group , Access Holdings , Safaricom , and M-PESA Africa have formed a strategic partnership to provide remittance corridors between East and A transformative collaboration aimed at broadening access to remittances across Africa has been forged among Coronation Group, Access Holdings Plc, Safaricom Plc and M-PESA Africa. The parties come together in a strategic alliance dedicated to propelling financial inclusion and nurturing economic prosperity for millions across the continent.

Joining forces for financial services convergence in Africa The collaboration will see the merging of Access Holdings’ Pan-African banking infrastructure, spanning 14 African countries, with Coronation Group's array of technology-infused financial services offerings in West Africa, coupled with M-PESA and Safaricom. M-PESA is the continent’s mobile money and digital payments service, connecting more than 60 million customers and 5 million businesses across 8 countries and processing more than USD 1 billion a day in transaction value. Safaricom is a Kenya-based telecommunications, ICT, and financial services provider with more than 32 million of its customers using M-PESA services every month.

Spurring intra-continental economic activity The initial phase of the collaboration will concentrate on pivotal markets, including Nigeria, Kenya, Ghana, and Tanzania. The cooperation is subject to commercial discussions and definitive agreements, internal corporate approvals of the respective parties, and relevant legal and regulatory processes. The partners remain steadfast in their adherence to regulatory frameworks and their dedication to establishing an enabling environment that augments individuals and enterprises alike, fostering contributions to Africa's economic advancement.

Officials from M-PESA Africa said that African countries trade more with nations outside the continent than within themselves. Initiatives such as the African Continental Free Trade Area (AfCFTA) seek to address the lack of intra-continental trade. This partnership with Safaricom, Coronation Group and Access Holdings seeks to explore remittance corridors between East and West Africa bringing alive the AfCFTA spirit.

Sharing insights, executives from Safaricom stated that they will be collaborating with M-PESA Africa, Coronation Group, and Access Holdings to explore secure, convenient, and affordable remittance solutions that will connect their customers to opportunities in West Africa. The continent remains an underserved region especially for remittances within, making such partnerships crucial in closing the gap. .