Thunes and Ecobank Join Forces to Transform Payments in Africa

Thunes, a global financial technology company, and Ecobank Group, one of Africa’s leading financial institutions, have announced a significant partnership aimed at enabling instant cross-border payments across Sub-Saharan Africa. This collaboration is set to enhance financial connectivity for millions of individuals and businesses, marking a pivotal step towards digital inclusion in the region.

The alliance operationalizes a memorandum of understanding signed in 2024, which sought to reform financial access and cross-border payment solutions throughout Africa. The partnership aims to integrate banking and fintech infrastructures, facilitating quicker and simpler transactions across borders. With this integration, users will experience faster settlements and improved access to liquidity, unlocking new avenues for growth in the digital economy.

Expanding Financial Access Across the Continent

The initiative will roll out across Ecobank’s extensive operational footprint of 32 countries in Sub-Saharan Africa, adhering to local regulations. This phased deployment will connect Ecobank customers to Thunes’ Direct Global Network, which spans over 130 countries and interfaces with 7 billion mobile wallets and bank accounts worldwide. The combined strengths of Ecobank’s local expertise and Thunes’ global network will empower entrepreneurs to engage in cross-border trade, allow families to send support quickly, and foster community participation in a flourishing digital economy.

“This collaboration marks a major development in how we power payments across Africa,” stated Peter De Caluwe, Co-Founder and CEO of Thunes. “Thunes’ solutions, combined with Ecobank’s reach, provide faster and more reliable access to liquidity, creating new pathways for growth across Sub-Saharan Africa.”

In alignment with this vision, Jeremy Awori, CEO of Ecobank Group, emphasized that the partnership aligns perfectly with their mission to drive financial inclusion and provide borderless banking services. “By merging our robust banking infrastructure with Thunes’ fintech innovation, we are expanding real-time financial access for millions and promoting the growth of Africa’s digital economy,” he said.

Initial Launch and Future Prospects

The first market to benefit from this collaboration is Togo, where Ecobank customers can now access instant payments from global remittance players. This launch highlights the partnership’s readiness for systematic expansion across the continent, showcasing a commitment to operational effectiveness.

As the partnership progresses, it aims to transform the landscape of financial services in Africa, enabling greater participation in the global economy. With the combined efforts of Thunes and Ecobank, the initiative aspires to bring financial services to the next billion users in the region, ultimately propelling Sub-Saharan Africa into a more integrated and digitally-driven future.