#Africa #Thunes #Johannesburg #South Africa #Absa Group

Absa and Thunes Strengthen Partnership for Enhanced Payment Solutions in Africa

In a significant move to improve financial services across the African continent, Absa Group Limited, one of Africa's leading diversified financial services providers, has announced its strengthened partnership with Thunes, a global payments network that enables seamless cross-border money transfers. This collaboration aims to enhance Absa's multi-currency clearing operations, providing customers with unparalleled access to smooth currency exchanges and real-time liquidity.

A Strategic Move for Cross-Border Transactions

The renewed partnership leverages the operational strengths of both companies, with Thunes acting as a strategic ally to facilitate Absa's ambitious cross-border payment strategy. Recently, the duo launched the pioneering Absa Global Pay service in South Africa, marking a successful initial step. The service integrates Absa's robust banking presence across the continent with Thunes' extensive global connectivity and localized expertise. This initiative is set to revolutionize the way businesses and consumers in Africa interact with international payment systems.

Absa has emphasized that multi-currency clearing is a cornerstone of this initiative, enhancing the speed, transparency, and choice of cross-border transactions for its clients. By connecting Absa’s vast pan-African banking network to Thunes’ Direct Global Network, the partnership opens doors to over 140 countries, 90 currencies, and 220 payment methods. This will allow transfers not just to bank accounts but also to mobile wallets and card networks, ensuring liquidity around the clock with regulatory compliance at the forefront.

Executive Insights

Richard Southey, Head of Payments as a Service at Absa CIB, remarked, “Our augmented collaboration with Thunes reflects our commitment to delivering intuitive and premium financial services. Following the success of our Global Pay launch in South Africa, this expanded partnership allows us to utilize Thunes' dependable network to broaden our cross-border offerings, granting our customers unmatched currency options, speed, and cost-efficiency.”

On the other hand, Daniel Parreira, Senior Vice President for Africa at Thunes, echoed this sentiment by stating, “Our initial partnership with Absa demonstrated the significant impact that can arise from combining strong local banking relations with interoperable global payment coverage. By strengthening our collaboration and taking on a strategic role in multi-currency clearing for Absa, we are providing the digital infrastructure and liquidity necessary to seamlessly connect African businesses and consumers to global payment ecosystems.”

Celebrating the Partnership

The official ink on this critical partnership was signed during a ceremony at SIBOS 2026 in Miami, with executives from both organizations present to commemorate the milestone. This event signifies not just a contractual agreement but a shared vision for transforming the payment landscape in Africa.

As Absa Group continues to expand its operations beyond traditional banking, the partnership with Thunes is expected to enhance the availability of advanced financial solutions to millions of customers across Africa.

About Thunes and Absa Group

Thunes is recognized as a significant player in the global payments landscape, providing the infrastructure for seamless cross-border transactions. To learn more about their services, visit Thunes' website.

Absa Group Limited, listed on the Johannesburg Stock Exchange, is a leading African company providing a wide array of financial services. Their offerings include retail and business banking, investment banking, asset management, and insurance services across multiple regions, including Botswana, Ghana, Kenya, and South Africa. For additional information, please check out Absa Group's website.