African Export and Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat developed PAPSS, which enables instant cross-border payment in local currency The Pan African Payment and Settlement System (PAPSS) and the African Securities Exchange Association (ASEA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and cooperation in promoting cross-border
The judging panels were impressed by Ecobank’s sound management, business model and strategic initiatives as well as its pioneering technology Ecobank (www.Ecobank.com) wins “Bank of the Year” and “Best Bank” at The Banker and EMEA Finance Awards in London. Ecobank Cameroon, Gambia and Rwanda won Bank of the Year at The Banker Awards on 28th November.
United Bank for Africa (UBA) Liberia has launched its Chat Banking Product dubbed LEO. The online banking product which can be accessed on Facebook Messenger and WhatsApp will allow customers to make use of their social media accounts, to open account, transfer money from one account to another, get account statement, buy airtime, get customer
Figures released at SWIFT’s 26th African Regional Conference show much stronger growth in particular regions, including in West Africa at 29% Data released at the SWIFT African Regional Conference shows that SWIFT FIN messaging traffic in Africa has grown by 4.4% in the year-to-date. Figures are even stronger in the West African Monetary Zone, where
MTN Mobile Money users, who are also Ecobank customers in 12 African countries, will soon be able to withdraw cash from Ecobank ATMs. They will also be able to transfer money between their Mobile Money and Ecobank accounts. The service was piloted in Ghana last month, and will soon be launched in Benin, Cameroon, Ivory
MasterCard has announced its expansion into seven new markets across Central and West Africa, increasing its acceptance footprint across the continent and securing a number of strategic agreements. The addition of Chad, Central African Republic, Guinea-Bissau, Liberia, Sierra Leone, Rwanda and The Gambia to the MasterCard network extends the company’s presence to 48 of the