The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This strategic move, according to the apex bank, is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks. The merger is contingent upon
The Alternative Bank is leading the way in promoting sustainable economic growth across Africa through its innovative catalytic capital strategy. This approach was prominently showcased at the recent Africa Social Impact Summit (ASIS) 2024, an event organised by the Sterling One Foundation in collaboration with the United Nations. Catalytic capital, which prioritises social and environmental
African Development Bank Executive Director Rufus N. Darkortey has concluded a five-day working visit to Liberia, where he engaged in high-level discussions with key stakeholders, including President Joseph Nyuma Boakai. Representing Liberia, The Gambia, Ghana, Sudan, and Sierra Leone at the Bank, Darkortey also met with Vice President Jeremiah Kpan Koung, Speaker of Parliament Jonathan
Flutterwave, a leading payments technology company, has recently been granted a Payment Service Provider license (Enhanced Category) by the Bank of Ghana. The milestone marks a significant expansion of Flutterwave’s operations in Africa, enabling the company to offer a comprehensive suite of payment services directly within, and through Ghana. Ghana presents an exciting market for
PalmPay, a leading Africa-focused fintech platform, has been included in the 2024 edition of CNBC and Statista’s prestigious list of the “Top 250 Fintech Companies in the World.” This recognition underscores PalmPay’s rapid growth and significant contributions to advancing financial inclusion. The CNBC/Statista list honours fintech pioneers significantly transforming the financial services industry through technology.
Account-to-account (A2A) payments are an online payment method that allows you to directly transfer money from one account to another without using third parties or alternative payment intermediaries, such as cards. Account-to-account payments aren’t new; they have been around since the 1970s. They are usually in the form of direct bank transfers at traditional financial
Africa’s payments ecosystem has undergone significant transformations in recent years, driven by technological advancements, changing consumer behaviour, and the evolution of fintechs. In this evolving landscape, Interswitch Group, one of the continent’s leading integrated payments and digital commerce companies, has reinforced its longstanding partnership with ACI Worldwide, a global leader in real-time payments software, to
The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria. In its usual creative conjecture, 13O-year-old FirstBank, has hit the airwaves and other
As the world of finance evolves into the digital age, businesses now have the luxury of choosing platforms that offer convenience and efficiency in managing their finances. Companies dealing with clients in other markets can opt for digital payment systems for cross-border transactions, which promote speed, safety and cost savings. Africa is experiencing an increase
Paymentology the leading next-gen global issuer-processor, today announces its partnership with Mama Money, one of Africa’s leading cross-border money transfer operators, and Access Bank, to launch a pioneering new bank card service that stands out for its innovative use of WhatsApp banking. Through its integration with WhatsApp, the Mama Money Card allows you to transfer
