Access Bank’s merger deal with the defunct Intercontinental Bank has been judged Africa’s top merger and acquisition (M&A) deal by the Banker Magazine. The Banker Magazine, a member of the Financial Times stable of publications, selected the Access Bank and Intercontinental Bank deal as the “2012 Mergers and Acquisitions Deal of the Year” for Africa.
Wincor Nixdorf is opening a new representative office in Lagos, the largest city in the western African country of Nigeria. The company is extending its involvement in Nigeria as part of the expansion of its business in the world’s growth markets. Eckard Heidloff, President and CEO of Wincor Nixdorf AG, explained the company’s future presence
The many hiccups in the use of paper tickets on the Bus Rapid Transit (BRT) and Bus Franchise Scheme (BFS) will be eliminated with the soon-to-be-deployed e-ticketing system, Dr. Dayo Mobereola, Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA) has assured. The pilot scheme commenced on Monday 6th June 2011. Speaking at a stakeholder meeting
Interswitch Transnational, a leading pan-African integrated payments company with operations in Nigeria and a growing presence in West and East Africa, announces that its Switching and Processing division (“Interswitch S & P”) has completed an acceptance and acquiring third party payment processing integration with UnionPay International. As a result of this integration, UnionPay cardholders from
Nigeria’s Access Bank aims to grow its customer base to 15-20 million across its African markets by 2018, from around 6 million now, as it shifts its focus to retail banking. Its incoming chief executive, Herbert Wigwe, who takes over at the end of the year, said retail banking will account for around 50 percent
Aftab Currency Exchange, a remittance and foreign exchange brand with a presence in three continents, has strengthened its bonds with Airtel Communications, a leader in global payments services to extend joint operations in Kenya and Nigeria. Aftab Currency has taken another initiative with Fidelity Bank with an active network of 173 branches across Nigeria to
Nigerian banking behemoth Diamond Bank has intensified its focus on delivering financial services to the under-banked in the informal sector by launching its “branchless banking” service on BankOne, a mobile banking application which allows instant account opening and registration. The application is designed and developed by AppZone, a fast-growing technology company. The integration of the
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