The United Bank for Africa (UBA) Plc, known as Africa’s Global Bank, and MFS Africa, the continent’s largest computerized payments hub, have announced a partnership that will enable the two organizations to provide innovative and practical solutions for a wide range of clients, particularly in the areas of remittances, electronic money services, SME payments, and collaboration with businesses for cross-border payments.
The 20 African countries UBA operates in – Nigeria, Ghana, Kenya, Côte d’Ivoire, Zambia, Tanzania, Uganda, the Republic of Benin, Burkina Faso, Cameroon, Chad, Congo, the Democratic Republic of the Congo, Gabon, Guinea, Liberia, Mozambique, Sierra Leone, Mali, and Senegal—are supposed to be covered by these administrations.
The two organizations signed a Memorandum of Understanding (MoU) on Tuesday at the UBA Head Office in Lagos, announcing the start of an association that will be crucial in utilizing MFS Africa’s computerized payment center point, which connects more than 400 million users of mobile money to a wide range of partners, including Mobile Money Operators, Money Transfer Organizations, Fintechs, Enterprise Merchants, and others, to drive the distribution of financial services at scale.
UBA’s Group Deputy Managing Director, Muyiwa Akinyemi, who talked during the marking function, communicated his fervor at the plenty of contributions that UBA clients will appreciate from the association.
“We are exceptionally satisfied to cooperate with MFS Africa in this adventure that will see us offering consistent computerized answers for the greater part of the monetary difficulties of our clients. UBA is prepared and with the worth that MFS Africa is known for we are to be sure set to overwhelm the whole financial space in Africa,” Akinyemi said.
He made sense of that the organization will assist with supporting a variety of administrations which will incorporate a brought together installment center point that empowers get line installments across various rails through a solitary joining; Inbound and Outbound cross-boundary settlements; SME Payments Digitisation; Domestic and Cross Border Corporate Disbursements; Remittance Africa China Corridor; Bin Sponsorship and Web Acquiring.
Talking for MFS Africa, Dare Okoudjou, the pioneer and CEO, said, “As the installments scene in Africa keeps on developing, we accept that Fintechs and banks need to have more profound cooperation in extending open doors that will assist with facilitating settlement, installments, payment, and assortments for organizations and their shoppers across all areas of the economy in Africa.
“Therefore we are glad to invite UBA as our new dish African financial accomplice. We know about the qualities and abilities of UBA which is the reason we will be cooperating towards growing admittance to additional opportunities for a large number of African buyers and organizations across the 20 nations they are available in Africa,” Dare said.