From Bamigbola Gbolagunte, Akure
Kolomoni Microfinance Bank and the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) have partnered to distribute AfriGO debit cards to millions of Nigerians, aiming to enhance financial inclusion.
The collaboration, announced on April 13, leverages Kolomoni’s digital banking expertise and AMMBAN’s extensive agent network to reach unbanked and underserved communities.
Yusuf Adeojo, Managing Director of Kolomoni, stated, “Through this collaboration, Kolomoni users and AMMBAN members will benefit from AfriGO’s advanced debit card technology. What this means, by extension, is faster transactions, enhanced security features, exclusive rewards, and unparalleled convenience.”
He spoke of AfriGO’s role as Nigeria’s first National Domestic Card Scheme, designed to serve the 35.9% of financially excluded Nigerians, particularly in the northern region, as per a recent Enhancing Financial Innovation and Access (EFInA) report.
Adeojo noted AfriGO’s instant settlement for POS transactions, which streamlines payments for merchants and consumers, boosts local businesses, and strengthens Nigeria’s card payment sector. Ebehijie Momoh, Managing Director of AfriGOpay Financial Services Ltd., added: “AfriGO’s partnership with Kolomoni MFB underscores our commitment to driving financial inclusion by providing secure, accessible, and affordable payment solutions to the unbanked and underbanked segments in Nigeria. With AfriGO cards, customers can enjoy seamless, secure and convenient access to digital financial services, including cash withdrawals, physical and online payments.”
AMMBAN’s Oyo State Chairman, David Alao, emphasised grassroots cashless adoption, stating: “This collaboration will not only benefit AMMBAN members but will also extend to more small and medium-sized business owners, particularly in rural and suburban areas. By equipping them with AfriGO debit cards and other financial tools from Kolomoni, we are fostering economic growth and expanding financial access across the country, and this has always been our vision.”
The partnership targets millions to reduce financial exclusion, enabling participation in Nigeria’s digital economy. Kolomoni, a Central Bank of Nigeria (CBN)-licensed microfinance bank, and AMMBAN, a key player in the CBN’s financial inclusion strategy, aim to bridge the gap for the 35.9% unbanked, especially in northern Nigeria.
Leave a comment