Currencies Acceptable in All EAC States

Residents of Kenya, Rwanda, Uganda, Burundi and Tanzania will now be able to travel with their respective national currencies in other East African Community (EAC) countries and make digital cross-border cash transactions in real time. The new development comes through the just launched East African Community project on Payment and Settlement Systems Integration Programme (PSSIP)

MasterCard and Ecobank Announce Multi-country Agreement in 28 Sub-Saharan African Countries

Ecobank Transnational Inc. and MasterCard, have announced a multi-country licensing agreement which will provide access to MasterCard’s electronic payments solutions for Ecobank’s customers in a further 23 African countries. The agreement is the culmination of a Memorandum of Understanding (“MOU”) originally signed in November 2011, and importantly, enables electronic payments access to more than 60%