The Standard Chatered banking group announced Thursday, August 13, that it has entered into a strategic partnership with Airtel Africa to promote financial inclusion in Africa.

This initiative will allow both parties to bring new innovative products to market. This will have the mission of ensuring greater financial inclusion of African populations, generally excluded from traditional financial systems.

This partnership will allow Airtel Money customers to make real-time online deposits and withdrawals to Standard Chartered bank accounts. They will also be able to receive international money transfers directly into their wallets and access savings products among other services.

The banking group's corporate customers will also be able to make bulk, fast and secure disbursements, such as salary payments, directly into the wallets of employees using Airtel Money.

Standard Chartered CEO Sunil Kaushal said:
“By collaborating with innovative organizations like Airtel Africa, we are accelerating our mobile and digital strategy to deliver the best financial services to Africa. This partnership will further strengthen our customers' ability to manage and transfer money.”

Note that the first countries affected by this new offer are Kenya, Tanzania, Uganda and Zambia. As part of this collaboration, the two entities will launch other products. These offers will be subject to the approval of the competent state authorities.