SmartCash Payment Service Bank (SmartCash PSB), a unit of Airtel Africa, brings digital financial services to Nigeria.

Airtel Africa’s subsidiary, SmartCash PSB, is bringing its digital financial services to selected cities in Nigeria to further reach unbanked consumers there and expand the region’s digitization efforts, according to a press release.

Airtel Africa CEO and Managing Director Segun Ogunsanya said in the release that bringing SmartCash PSB to Nigeria is the start of its “journey to revolutionize the financial services landscape in the country” while also helping the larger economy.

Segun added that SmartCash PSB will deliver savings accounts and other financial services to the “millions of Nigerians” lacking access and will offer “payment and remittance services, debit and prepayment cards.”

Africa is a buzzing hot spot for attracting venture capital (VC) monies, with a record $5.2 billion invested in startups last year. That is close to a fivefold increase from 2020.

SmartCash PSB will at first be trialed at selected retail touch points in Nigeria, with plans to slowly grow operations across the country in the coming months, the press release (mailed to PYMNTS) stated.

Airtel Africa’s footprint primarily falls across East, Central and West Africa. Founded in 2010 and headquartered in Tanzania, the company offers an integrated suite of telecommunications and global mobile money services.

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