Guaranty Trust Holding Company (GTCO Plc) said it has obtained approval for the operation of its payment subsidiary, Habari, from the Central Bank of Nigeria (CBN).
Erhi Obebeduo, Secretary, GTCO Group Company, disclosed this in a corporate filing on the Nigerian Exchange (NGX) on Thursday.
The new subsidiary will serve to expand the group range of services to largely underserved markets in support of the CBN’s financial inclusion drive and contribute to the resilience of the global payment ecosystem.
Commenting on the new subsidiary, Segun Agbaje, Group Chief Executive Officer of GTCO Plc said: “Payments are central to the development of financial services globally and represent a key growth area for the Group.
“GTCO Plc has been at the forefront of delivering cutting-edge innovative solutions with its banking franchise and would leverage this capacity to transform the evolving payment space. with HabariPay, we have successfully created more value for our stakeholders.“
He stated further, “Our vision is an Africa where every payment is digital, and we hope to achieve this by increasingly leveraging technology to improve access to financial devices for individuals and empower businesses across Africa with the right digital tools to thrive”