MTN expanded its partnership with Ecobank, one of Africa’s largest banks, a move the companies said would drive financial inclusion and increase the scope of their consumer services.

In a statement, the partners said the combination of assets would allow digitisation of international remittance, enable innovation in mobile-based savings and loan services, and offer digital payments to businesses.

Customers will also be able to transfer cash from Ecobank accounts directly into MTN mobile wallets.

The announcement follows a number of MTN initiatives to boost its mobile money services already this year, including plans to grow its merchant network in Zambia and expand the scope of its service in Ghana to include purchases on the Google Play store.

“Partnerships between banks and mobile money operators are fundamental in the mobile money ecosystem,” MTN CEO Rob Shuter (pictured, right) said. “We are excited to be taking this partnership to the next level as this latest development will spearhead innovative initiatives which will deepen financial access on the continent.”

Ecobank group CEO Ade Ayeyemi (pictured, left) added: “Ecobank’s digital strategy has long been committed to ensuring transaction convenience for the market. We have made giant strides in our mission to ensure financial inclusion and today’s agreement with MTN will greatly accelerate the easy availability of banking services to the previously unbanked.”

In January, Shuter outlined ambitious plans for his company to become the largest bank on the continent.