Access Bank, MFS Africa tie-up to enable Kenya, Nigeria remittances
Fintech MFS Africa has partnered with Access Bank, Nigeria’s largest bank, which operates across 17 markets, to expand AccessAfrica remittance corridors.
AccessAfrica is Access Bank’s service that allows customers to transfer and receive money across the world.
MFS Africa, which operates in over 35 African countries, says the partnership will provide ‘simplified transfers for AccessAfrica customers, enabling real-time, cost-effective cross-border payments for individuals and businesses who want to send financial support to their families abroad or facilitate trade transactions’.
Dare Okoudjou, CEO, MFS Africa, says: “Through this partnership we’ll be expanding Access’ instant outbound remittance reach to potentially 400 million mobile wallets and more than 130 banks across over 35 African countries, enabling thousands of people and businesses throughout the continent to receive payments in real-time from Nigeria, and improving convenience for and facilitating trade with the neighbouring countries and beyond.
“Uplifting the African continent through sustainable and accessible financial services has always been at the centre of what we do at MFS Africa. Partnering with Access Bank, which shares this ethos, made complete sense."
Robert Giles, senior banking advisor, retail, Access Bank, says: “This partnership builds on the existing cross-border payment infrastructure by Access Bank and would facilitate payments to more African corridors, increasing the number of countries we can send instant payments through AccessAfrica.
“Our partnership with MFS Africa and access to hundreds of millions of people in the new markets will help our customers pay and be paid, facilitating greater economic inclusion through trade as well as helping families across borders. Critically this propels us closer towards being ‘Africa’s gateway to the world’ and democratising access to payments through affordable, safe and reliable platforms.”