MoMo PSB and Saana Capital LLC Partner to Enable Seamless Inbound and Outbound Transfers in Africa

Lagos, Nigeria - MoMo Payment Service Bank (MoMo PSB) and Saana Capital LLC ("Brij") have joined forces to introduce a groundbreaking service that enhances cross-border financial transactions within Africa. This strategic partnership between the two entities marks a significant milestone in facilitating seamless inbound and outbound transfers while also offering convenient bill payment services.

By leveraging the partnership between MoMo PSB and Saana Capital LLC ("Brij"), customers of MoMo PSB will be able to send and receive money directly from various African countries using their MoMo accounts. This eliminates the need for foreign currency or domiciliary accounts, providing individuals with greater convenience, speed, and affordability when conducting cross-border transactions across Africa.

Furthermore, this collaboration encompasses a comprehensive bill payment solution that enables seamless settlement of bills across various African countries. With this feature, individuals and businesses can conveniently meet their financial obligations across borders, augmenting convenience and stimulating economic growth.

Eli Hini, the CEO of MoMo PSB, expressed excitement about the partnership, stating, "We are thrilled to partner with Saana Capital LLC ("Brij") to introduce this groundbreaking service to our valued customers. This collaboration aligns with our commitment to providing innovative financial solutions that cater to the evolving needs of our customers. With this service, we are making cross-border transfers and bill payments across Africa more accessible, efficient, and cost-effective than ever before."

The CEO of Saana Capital LLC ("Brij"), Nicholas Koros, added, "We are delighted to join forces with MoMo PSB in this strategic partnership. By combining our expertise in cross-border payment services with MoMo's customer base and strong reputation, we can collectively revolutionize the way individuals and businesses manage their financial transactions across African borders. This collaboration underscores our shared vision of fostering financial inclusion and driving economic empowerment in Africa."

Currently, the inbound service is available for customers who wish to send money from Uganda and Rwanda. However, MoMo PSB customers in Nigeria can expect inbound transfers from other African countries, as well as outbound transfers and bill payment services, to be available in the coming weeks.

For inbound transfers, MoMo customers in Nigeria will receive SMS notifications whenever money is sent to their wallets from the enlisted countries. The local currency equivalent will be credited to their MoMo wallets at the prevailing exchange rate, enhancing the convenience and accessibility of these transactions.

To open a MoMo account, MTN subscribers can simply dial *671# on their phones. Alternatively, the MoMo mobile app can be downloaded from the Google Play Store or the Apple App Store, providing users with an additional option to access the services.

This strategic partnership between MoMo PSB and Saana Capital LLC ("Brij") underscores their commitment to enhancing financial inclusion and driving economic growth across Africa. By providing seamless cross-border financial transactions and convenient bill payment solutions, this collaboration promotes convenience, speed, and affordability for individuals and businesses alike.

Source of content: OOO News 2023-08-29 News

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