IFC, a member of the World Bank Group, has partnered with Standard Bank and Rand Merchant Bank (RMB) to help expand local currency financing for private businesses across Africa. IFC will collaborate with Standard Bank and RMB on cross-currency swaps to manage currency exposure related to its local currency lending. This hedging allows IFC to
Orange Middle East and Africa (OMEA) and Mastercard have announced a strategic partnership to expand access to mobile financial services across Sub-Saharan Africa. This collaboration, one of the largest of its kind in the region, will enable millions of Orange Money wallet holders to access digital payments through Mastercard’s global network of merchants by 2025.
TBD and African FinTech Chipper Cash partnered to facilitate B2C and B2B cross-border payments across 40 African countries. Chipper Cash has integrated with TBD’s open messaging protocol, tbDEX, to power cross-border payments and decentralized identity use cases, the companies said in a Tuesday (May 14) press release. “Across Africa, the challenges of currency liquidity and
Expansion includes Burkina Faso, Cameroon, Kenya, Ivory Coast, Ghana, Senegal, South Africa, Nigeria; Leveraging success in Latin America to provide underbanked populations in Africa with efficient payment functions. PayRetailers, the leading payment processor for Latin America, has today announced further expansion into Africa. With coverage now across 12 countries, the company offers a unified simple
Africa Finance Corporation (AFC), the continent’s foremost infrastructure solutions provider, has announced a new equity investment from Rawbank, one of the leading banking and financial institutions in the Democratic Republic of Congo (DRC). This equity infusion aligns with AFC’s strategy to mobilise African capital and diversify its capital base, reinforcing the Corporation’s mission to deliver
American Express and Ecobank Group (www.Ecobank.com), the leading pan-African financial services Group, announced an agreement to significantly expand American Express Card acceptance in twenty-one countries across Africa. Through this agreement, American Express Card Members will be able to use their Cards in twelve new countries: Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger,
Mr. Jeremy Awori, Chief Executive Officer of Ecobank Group, and Mr. Mike Ogbalu III, CEO of PAPSS signed the Memorandum of Understanding on June 19, 2023, in Accra, Ghana. Ecobank Group, the leading pan-African banking Group, and The Pan African Payment and Settlement System (PAPSS) have signed a Memorandum of Understanding (MoU) to facilitate settlement
The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, in this interview with THISDAY reviewed the performance of the global economy in 2022 and advised businesses and their bankers to approach 2023 with a partnership mindset to ensure that a win-win outcome is achieved despite the anticipated macroeconomic challenges. Excerpts: What
The six finalists were chosen following extremely strong competition from over 700 fintechs from 59 countries. Grand Finale to be held on 28 October at the Ecobank Group Pan African Centre in Lomé, Togo. Finalists will compete for the top price of $50,000 and admission to the ‘Ecobank Fintech Challenge Fellowship’ program Ecobank Group, the
Established Colombian fintech firm Minka has announced that it plans to repeat the success of its Latin America-based real-time payments system across Africa, accelerating and easing the movement of money across the continent and improving financial inclusion. Minka is a seamless payment network that enables organisations to move money in real-time. It simplifies the movement
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