Airtel Africa PLC said on Thursday that its subsidiary SmartCash Payment Service Bank Ltd has commenced operations in Nigeria.

The Africa-focused telecommunications firm said that services will initially be available at retail touchpoints before operations are expanded across the country over the next few months.

Chief Executive Segun Ogunsanya said: ‘This is the beginning of our journey to revolutionise the financial services landscape in the country. To help further digitise the economy, and most importantly to help bank the unbanked by reaching the millions of Nigerians who do not currently have access to financial services by delivering current and savings accounts, payment and remittance services, debit and prepayment cards and more sophisticated services.’

Shares in the FTSE 100-listed company were down 1.6% at 140.70 pence on Thursday morning in London.

Copyright 2022 Alliance News Limited. All Rights Reserved.