Carteira Móvel, operator of the e-money financial service, mKesh, and Ecobank Moçambique, SA, signed, Thursday, July 28, in Maputo, an interoperability agreement, which will allow the clients of both institutions to transfer values from their bank accounts at Ecobank to the e-money accounts of mKesh, and vice-versa.

This partnership is of great value to Ecobank Moçambique, SA, as it is aligned with Ecobank Group's vision, which is to create a Pan-African Bank that contributes to the economic development and financial integration of the continent, in general, and of Mozambique, in particular.

Likewise, this agreement will contribute significantly to the efforts and ambitions that both institutions have undertaken in the digitalization of the market, in order to provide convenient and accessible financial services to unbanked citizens, as well as expand the offer of financial products and services to customers who are already banked.

The interoperability, which results from the integration of the two institutions' mobile payment systems, is available on mKesh's USSD channel *500# (only on the Tmcel network) and will soon be available on Ecobank Moçambique's Mobile App.

For the Chairman of the Board of Directors (PCA) of mKesh, Binda Celestino Jocker, the partnership between Ecobank Mozambique and Mobile Wallet marks the beginning of a great relationship that will bring enormous benefits to the clients of both institutions, through the offer of better services.

"The e-money financial service, which is supported by Ericsson's technology, aims to improve customers' lives by offering money transfer services, cash withdrawal from agents and ATMs, payment of services, and connection to the SIMO network's interbank electronic payment system," stressed Binda Celestino Jocker.

To better support the mKesh service, Tmcel has recently started the expansion and modernization of its fixed and mobile network, which is circumscribed by the implementation of new 2G, 3G, 4G and 4.5G sites and the modernization of its backbone, going from the current 100GB to more than 400GB of capacity, in an investment of about US$132 million.

At this moment, the provinces of Maputo, Gaza and part of Inhambane, up to Morrumbene district, have already been covered with the new network, and the remaining coverage of the southern zone and simultaneously the cities of Beira, Nampula and Nacala are to follow.

In turn, the managing director of Ecobank Mozambique, José Manuel Correia Mendes, said on the occasion that the implementation of interoperability services is a living testimony of the digitalization strategy of the Ecobank Group, in its performance as a Pan-African bank, which is contributing to the financial integration of the continent.

"Thus, we maintain our commitment to ensure digitalization in Mozambique, through a range of innovative banking services and products, aware that the challenges ahead, will put us in a position of innovation," concluded José Manuel Correia Mendes.