Published: August 2, 2024
Last updated: August 3, 2024
MONROVIA — BnB, a leading fintech company, in partnership with Lonestar Cell MTN’s MoMo, has launched an Outbound International Transfer Service aimed at making money transfer more convenient in eight additional African countries.
At the service launch held on Thursday, August 1, 2024, in Monrovia, David Ojo, BnB Managing Director, said the institution is dedicated to revolutionizing the financial landscape across Africa.
The eight countries where the international transfer is currently being operated include the Ivory Coast, Ghana, Sierra Leone, Guinea, Uganda, Rwanda, Mali, and Senegal. Mr. Ojo disclosed that this service is offered free of charge for the first three months.
He added that the transfer service allows customers to send money easily and securely to these countries, helping to reduce the numerous challenges faced by customers in wiring cash to their family members or associates residing or schooling in neighboring African nations, irrespective of the kind of currency.
“This innovative solution, powered by BnB’s cutting-edge technology, simplifies the process of sending money abroad, making it accessible to all,” Mr. Ojo added. He indicated that users can now transfer funds internationally with ease and convenience, directly from their mobile phones using a simple USSD code (*156*1#).
The BnB Managing Director further expressed excitement for the collaboration with Lonestar Cell MTN to bring what he called an essential service to Liberian citizens.
According to him, the company’s goal is to provide a fast, reliable, and affordable way to send money overseas. “This initiative marks a significant step forward in enhancing financial inclusion and connectivity for the community,” he said.
Mr. Ojo noted that BnB seeks to empower the unbanked and promote cashless transactions throughout the continent, adding that the company is at the forefront of digitizing Africa’s financial sector, offering innovative solutions like integrating remittance termination into mobile wallets.
He said the institution is committed to driving economic growth and supporting small businesses in the financial ecosystem, ensuring a secure and reliable service for all of its users.
“BnB provides international money transfer and payment services to individuals in multiple countries around the world, with a focus on sending and receiving money transfers to, from, and within Africa,” Mr. Ojo stated.
Also speaking, the General Manager for Lonestar Cell MTN Mobile Money Financial Services, Christopher Ssali, lauded the Chief Executive Officer of BnB for the innovation in enhancing financial transaction services in Africa.
He pledged the continued collaboration between Lonestar Cell MTN and BnB to meet the expectations of their customers, thus encouraging every individual to take advantage of the international transfer service.
Giving a brief overview of the mobile service provider, Mr. Ssali said Lonestar Cell MTN is a leading telecommunications company in Liberia, renowned for its dedication to providing cutting-edge and dependable communication solutions.
“Liberia’s digital development has been greatly aided by Lonestar Cell MTN, a division of the MTN Group, a major player in the mobile telecommunications sectors of Africa and the Middle East,” he added.
Ssali noted that the service provider diversifies its services and offerings in the area of financial service delivery, popularly referred to as “MoMo.”
MoMo is a secure and convenient mobile money platform that allows users to send and receive money, pay bills, and conduct other financial transactions directly from their mobile phones.
MoMo has made financial services accessible to a large portion of the population, including those in rural and underserved areas, thereby integrating more people into the financial system and contributing to the country’s economic development.
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