Mastercard has opened its first office in Accra, Ghana, to support the country’s growing digital economy. This expansion strengthens its footprint across Africa, with existing offices in Cairo, Casablanca, Johannesburg, Lagos, Nairobi, and Mauritius. This move is part of Mastercard’s strategy to reinforce relationships with local stakeholders and foster inclusive growth in West Africa. “Opening
USTDA Supports Zenith Bank’s Transition to Microsoft’s Azure Cloud Platform The U.S. Trade and Development Agency announced that it has awarded a training grant to Zenith Bank Plc (Zenith) to support institutional skill set transformation as it adopts the Azure hyperscale cloud platform from Washington-based Microsoft Corporation (Microsoft). Zenith’s switch to this technology will increase
Bidvest Bank is being sold to Nigerian-based Access Bank, which is set to expand the latter’s operations in South Africa substantially. In December 2024, JSE-listed Bidvest announced that it would dispose of 100% of Bidvest Bank Holdings Limited to Access Bank plc. Bidvest is expected to raise R2.8 billion from the sale, which will then
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
Moniepoint Inc. (“the Company” or “Moniepoint”), Africa’s fastest-growing fintech, announces it has successfully raised US$110 million in equity financing to power the dreams of millions of businesses and their customers across Africa and the diaspora. Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt) has an enviable track record of
Verve International, Africa’s first and largest domestic payments scheme and an emerging reference point in the burgeoning realm of domestic payment schemes globally, has again announced another remarkable new growth milestone, further consolidating its growing market share in Nigeria in terms of payment card issuance and transactions. Verve Payment Cards in Nigeria, Africa’s largest consumer
Thunes – a B2B payments infrastructure platform – has announced a partnership with Access Bank to improve cross-border payments in and out of 13 African countries. The collaboration will enable Access Africa to facilitate inbound and outbound cross-border payments in 13 markets: Botswana, Cameroon, the Democratic Republic of the Congo, Gambia, Ghana, Guinea, Kenya, Mozambique,
KaiOS Technologies, a leading operating system that brings the best of the internet to affordable devices, today announced a collaboration with Mastercard to integrate various digital payment solutions. Beginning in Cote d’Ivoire and Nigeria, Mastercard, and KaiOS Technologies will deliver affordable payment acceptance devices and stimulate the growth of a more inclusive, connected global economy.
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
PalmPay, a leading financial platform with over 30 million users in Nigeria, has launched its USSD code service. This new feature allows Nigerians to manage their finances without needing internet access. By dialing *861# from their mobile phones, customers can now carry out a wide range of banking transactions. PalmPay, operating in Nigeria since 2019
