Africa’s cross-border money transfer operators, Mama Money, has entered into partnership with Access Bank and Paymentology to launch a WhatsApp-powered bank card in South Africa.

According to Mathieu Coquillon, co-founder of Mama Money, “through its integration with WhatsApp, the Mama Money Card allows users to transfer payments internationally, buy electricity and airtime, download bank statements, check their balance and manage their account using the data-friendly messaging platform.”

He added that the innovation would make it much easier than traditional banks that often require proof of address to get a bank card.

“This is a key feature for Mama Money’s customers in South Africa, who are mostly from countries such as Zimbabwe, Malawi, Ghana, Nigeria, India and many more, to easily get a bank card that gives them access to fundamental financial services and the ability to send money to over 70 countries worldwide,” said Coquillon.

“Through Paymentology’s next-generation payment solution, the Mama Money Card also offers advanced security features that allow you to instantly freeze the card through WhatsApp in case of loss or theft.

“The Mama Money Card represents a significant step in empowering communities, particularly in aiding migrants.

“It provides a platform for secure employer payments, encourages savings, and ultimately contributes to the financial well-being of its users.

“By catering to the specific needs of a diverse customer base, Mama Money continues to dismantle financial barriers and promote inclusivity.

“In a nation where an estimated 4 million migrants reside with many not having access to essential financial services, initiatives such as this from Mama Money, powered by us, play a pivotal role in bridging the gap in financial inclusivity,” Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology also stated.

AfriLabs, a network organisation that drives innovation and entrepreneurship in Africa by bringing together technology hubs, startups, investors, and other key stakeholders in the ecosystem, has signed a memorandum of understanding (MOU) with the Korea-Africa Foundation
for a strategic partnership that will drive innovation and economic growth across the continent.

Anna Ekeledo, an Executive Director of AfriLabs who made the announcement, said the strategic partnership with the Korea-Africa Foundation, aims to serve as a platform for collaboration between the private and public sectors, and to strengthen exchange and cooperation with African countries.

“The collaboration between the two aims to bridge the gap between Korean and African startups by leveraging each other’s expertise and resources,”Ekeledo said.

“This will be achieved through the exchange of insights on youth development, the launch of joint research initiatives, and the fostering of a dynamic ecosystem that cultivates talent and entrepreneurial spirit in both regions.

“At AfriLabs, we are dedicated to unlocking Africa’s full potential and generating wealth through strategic alliances.

“This partnership with the Korea-Africa Foundation unlocks a treasure trove of opportunities for startups, granting them access to a global network, invaluable resources, and unparalleled industry knowledge.

“Together, we will empower the next generation of African innovators and entrepreneurs, paving the way for sustainable development and a thriving economy,” she added.