Africa News Bulletin

Madagascar: MVola And MFS Africa Join Forces To Facilitate Money Transfers To The Country

MVola is expanding, thanks to its partnership with MFS Africa, its remittance partners. The Malagasy diaspora will be able to send money to their loved ones in Madagascar.

MVola, Madagascar’s 1st FinTech, is proud to announce its strategic partnership with MFS Africa, the leader in remittance in Africa. This collaboration marks a turning point in the facilitation of money transfers to Madagascar, providing Malagasy expatriates and at home a new era of convenience and accessibility in sending and receiving money across the world.

This partnership will allow MVola to integrate the powerful MFS Africa platform, connecting Madagascar to a global network of financial institutions, mobile operators, financial service providers and money transfer platforms.

The Malagasy diaspora around the world now has access to an even wider range of options for sending money to their loved ones back home.
Money sent from the applications of these new partners will be received immediately in the recipient’s MVola account in Madagascar.

For the MVola customer in the country, the experience remains unchanged because it is always simple, immediate and secure:

Simple: because it will no longer be necessary to go to an agency to receive money received from abroad. No forms to fill out and sign;
Immediate: because he receives the money directly in Ariary on his MVola account;
Secure: because he manages the money he has received according to his needs on his MVola account (transfer, offer/credit purchases, merchant payments, etc.) and the secret code finalizes all his transactions.
Louis-Olivier Favot, CEO of MVola, said: “This partnership with MFS Africa represents a pivotal moment for MVola and for Madagascar. We’re excited to be able to offer our customers a more seamless and convenient receiving money experience. This wide choice of money transfers from all over the world to Madagascar brings the Malagasy people of the country and abroad closer together. This strengthens family ties and fihavanana across borders. »

MFS Africa is recognized across Africa for its cutting-edge remittance platform, which enables fast, secure transactions. This partnership will allow MVola users to benefit from these same benefits, while paving the way for new economic growth opportunities for Madagascar.

Rachel Balsham, Director for East and Southern Africa and co-founder of MFS Africa, commented: “We are proud to partner with MVola to expand our reach in Africa and around the world. Madagascar has enormous potential in terms of remittance, and this partnership will unlock this opportunity by facilitating money transfers to the Big Island. »

MVola is also proud to announce that it has obtained GSMA Mobile Money certification on the International Transfers API. This certification further strengthens the reliability and security of money transfers received from abroad via MVola.

It demonstrates MVola’s commitment to providing high-quality financial services that meet the highest international standards, providing its customers with complete peace of mind when sending money to Madagascar from around the world. . This certification illustrates MVola’s continued commitment to raising the standards of the financial services industry for the benefit of its international and domestic clientele.

This partnership between MVola and MFS Africa is part of the common vision of promoting financial inclusion and creating innovative solutions for the financial needs of Malagasy people. The two companies will work together to expand the range of services available to customers and to continually improve the money transfer experience.

Launched in 2010, MVola’s mission is to provide access to affordable and quality financial services to every Malagasy. MVola thus participates in the financial inclusion of all Malagasy people by giving them the same chance of success as the rest of the world.

MVola simplifies the lives of its +10 million Telma customers by making money transfer affordable. MVola also develops innovative savings, advance and insurance services.

MVola becomes the 1st Electronic Money Establishment (EME) in Madagascar in 2018 and obtains bank status, becoming in fact the 1st digital bank in Madagascar in 2021. In 2023, MVola becomes the 1st FinTech operating in the Indian Ocean to obtain the B Corp certification


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