South African telecoms company MTN and pan-African bank, Ecobank Transnational Incorporated (ETI) have partnered to improve access to financial services in Africa via MTN’s Mobile Money platform.

With a subscriber base of 14.8 million users, MTN’s Mobile Money platform allows users to transfer money locally and internationally, pay utility bills, purchase airtime, and access a range of mobile financial products.

The partnership not only allows MTNMobile Money service users who are also Ecobank customers to transfer cash between their Mobile Money and Ecobank accounts, but to also withdraw cash from Ecobank ATMs.

The collaboration with Ecobank is aimed at providing unique and distinct customer experience through the provision of value-added products and services, MTN said in a statement.

“We are extending our co-operation in Africa to expand the range of services provided, as well as to further explore the development of mobile financial services in these countries,” Pieter Verkade, MTN Group Chief Commercial Officer said, adding that the partnership aligns with on-going efforts to improve access to financial services for customers and broader communities in the countries where they operate.

According to Ecobank’s Group Executive Director for Domestic Banking, Patrick Akinwuntan, the collaboration will give the bank multiple channels of providing quality service to its customers.

“This roll-out further demonstrates our commitment to make branchless banking a reality… [Ecobank’s] unique pan-African footprint will also enable us to be at the forefront of developing the market for cross-border mobile money services in Africa,” he added.

Last month, the service was initiated in Ghana. According to a joint statement, It will be launched soon in Liberia, Uganda, Benin, Ivory Coast, Zambia, Guinea Bissau, the Republic of Guinea, Rwanda, Congo Brazzaville, South Sudan and Cameroon.