The alliance will enable faster and broader financial connectivity across sub-Saharan Africa
/PRNewswire/ — Thunesthe smart highway for moving money around the world and Ecobank groupthe main financial institution pan-Africantoday announced a collaboration that will enable payments cross-border snapshots for millions of individuals and businesses across Africa sub-Saharan.
Signing ceremony between Thunes and Ecobank
This partnership realizes the historic memorandum of understanding signed between Ecobank and TransferTo, the holding company of Thunes, in 2024. This agreement envisaged a fundamental transformation of financial access and cross-border payment solutions across Africa.
This new chapter in financial access will see large-scale integration between banking and fintech infrastructure, enabling people and businesses to send, receive and manage money instantly from one country to another. Accelerated settlements, simplified access to liquidity and expanded reach will open new opportunities for growth and participation in the digital economy.
The pan-African deployment will gradually extend to all 32 countries where Ecobank operates, in accordance with local regulations in force in each market. This phased continental rollout aims to connect Ecobank customers to Thunes’ Direct global network, which spans more than 130 countries and connects to seven billion mobile wallets and bank accounts worldwide.
By combining Ecobank’s extensive local presence with Thunes’ Direct global network, the alliance enables entrepreneurs to operate across borders, families to support their loved ones instantly, and communities to take part in a more vibrant digital African economy.
“This collaboration marks a major evolution in the way we manage payments in Africa,” says Peter De Caluweco-founder and CEO of Thunes. “Thunes’ solutions and Ecobank’s reach are a perfect fit: together we are providing faster, more reliable access to liquidity and creating new growth pathways across sub-Saharan Africa. The result is a large-scale solution that transforms the way money flows across the continent. This is a key milestone in our mission to enable the next billion end users to participate in the global economy.”
“Our collaboration with Thunes fits perfectly with Ecobank’s mission to provide borderless banking and support financial inclusion across Africa,” said Jeremy AworiCEO of the Ecobank group. “By combining our strong banking infrastructure with Thunes’ fintech innovation and the Direct Global Network, we are expanding real-time financial access for millions of people and driving the growth of Africa’s digital economy. »
The first market to begin operations under this pan-African partnership is Togo, where Ecobank customers can now benefit from instant payments from global remittance players. This launch demonstrates the operational readiness of the partnership, which is preparing for systematic expansion across the continent.
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