The mobile phone company MTN-Congo has signed a partnership with Flash International to facilitate money transfers between the two countries - Congo-Brazzaville and Congo-Kinshasa.
People will be able to transfer funds from DR Congo via Flash Cash directly to an MTN MoMo account in Congo-Brazzaville at the cost of USD 1, regardless of the transfer value. Flash has a network of over 160 branches and nearly 4000 Flash agents in DR Congo where its Flash Cash service is available.
Local media reports say that access to a traditional bank account remains difficult for a large category of the population in Africa, especially at the sub-regional level. Mobile money is seen as an alternative to bank accounts and an asset to facilitate money transfers in developing countries. The mobile money industry generates huge income and jobs for young people.
Flash has a network of over 160 branches and nearly 4000 Flash agents in DR Congo where its Flash Cash service is available. In addition, its FlashApp mobile application also gives users access to this service directly from their smartphones and will allow them to transfer money from home to an MTN MoMo account without going to a Flash agency.
MTN Congo SA is a subsidiary of the MTN group with its head office in South Africa.
In April 2021, another mobile phone company, Airtel-Congo, signed a partnership with the Groupement interbancaire monétique de d'Afrique centrale, to facilitate the sending and withdrawing of money via Airtel Money, from the Congo to Cameroon, Gabon, Central African Republic, and Equatorial Guinea.