In a strategic move to enhance its mobile money services, Airtel Money has partnered with Naivas, Kenya’s largest supermarket chain. This collaboration will allow Airtel Money users to deposit and withdraw cash across all 109 Naivas outlets nationwide, significantly expanding the telco’s presence in high-traffic, convenient locations.
The partnership comes as Airtel continues to face criticism over its limited agent network, which has long been overshadowed by Safaricom’s M-Pesa, boasting over 300,000 agents across Kenya compared to Airtel’s 90,000.
“This partnership underscores Airtel Money’s commitment to expanding our reach and ensuring that our services are easily accessible,” said Anne Kinuthia-Otieno, Managing Director of Airtel Money.
The move is part of a broader strategy by Airtel, Kenya’s second-largest telecommunications provider, to increase its market share in mobile money services. According to the Communications Authority of Kenya (CA), Airtel Money’s market share rose to 6.6% in October, up from 5.1% earlier in the year.
In addition to the Naivas deal, Airtel recently launched a partner shop at Gill House in Nairobi’s Central Business District, providing agents with easier access to float purchase services.
Peter Mukuha, Chief Operations Officer at Naivas, highlighted the collaboration’s significance: “We are proud that this partnership reflects our dedication to improving the lives of our customers by offering them more accessible financial solutions.”
Despite currency devaluations in East Africa, Airtel has reported a 7.5% revenue growth in the region, signaling its resilience and determination to expand its footprint in the competitive mobile money sector.
This latest partnership positions Airtel to challenge M-Pesa’s dominance and better serve its growing customer base by leveraging Naivas’ expansive retail network.