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Thunes and Ecobank: Transforming Payments in Africa

In a landmark collaboration aimed at revolutionizing financial transactions across the African continent, Thunes and Ecobank Group have come together to provide instant cross-border payment solutions for countless individuals and businesses in Sub-Saharan Africa. This partnership, initiated through a memorandum of understanding signed in 2024, signifies a pivotal moment in the evolution of financial access in Africa.

A New Era of Financial Connectivity

The partnership is built on the premise of integrating banking and fintech infrastructures, thereby simplifying the process of sending, receiving, and managing money instantly across borders. With a goal to streamline settlements and enhance liquidity access, this collaboration seeks to broaden the reach of both established and emerging players in the digital economy.

Thunes, recognized as a global leader in cross-border payments, is set to leverage its innovative technological solutions alongside Ecobank’s robust local presence, which spans across 32 countries. By combining resources, they aim to unlock new opportunities for growth and participation in the African economy.

Phased Expansion Across the Continent

The rollout of this initiative will take place in phases, adhering to local regulations in each country. The strategy focuses on connecting Ecobank customers to Thunes' Direct Global Network, which operates in over 130 countries and interacts with approximately 7 billion mobile wallets and bank accounts worldwide. This expansive network ensures that communities can engage in more dynamic and efficient economic activities.

Peter De Caluwe, Co-Founder and CEO of Thunes, emphasized the significance of this partnership, stating, "This collaboration marks a major development in how we power payments across Africa. Together, we are delivering faster, more reliable access to liquidity and creating new pathways for growth."

Championing Financial Inclusion

Ecobank Group, known for its dedication to financial inclusivity, is equally enthusiastic about this partnership. CEO Jeremy Awori remarked, "By linking our strong banking infrastructure with Thunes’ innovative fintech solutions, we are committed to expanding real-time financial access for millions while fostering the growth of Africa's digital economy."

Initial Launch in Togo

The first phase of operations under this collaboration has launched in Togo, where Ecobank customers can now instantly benefit from global remittances. This successful launch not only showcases the readiness of the partnership but also sets the stage for gradual expansions into other markets across the continent.

Through this initiative, families will find it easier to support loved ones from afar, while entrepreneurs will be empowered to engage in cross-border trading with greater ease. The partnership aims to create an integrated financial ecosystem that addresses the specific needs of African consumers and businesses alike.

Conclusion

In conclusion, the alliance between Thunes and Ecobank is positioned to transform the landscape of financial transactions in Africa, bringing instant payments to the forefront of economic participation. As this collaboration unfolds, it is not only expected to enhance the financial infrastructure across Sub-Saharan Africa but also to contribute significantly to the continent’s overall economic growth and development.