Banking
Access Bank and Mastercard: Enabling Seamless Africa-Global Payments
In today’s interconnected world, seamless cross-border payments are vital for economic growth, business expansion, and personal empowerment. For decades, millions of Africans faced steep barriers in sending or receiving money internationally: high fees, opaque exchange rates, and long delays that made transactions uncertain and costly. Whether theyare students paying tuition abroad or traders settling import bills and families depending on remittances, these challenges have touched every layer of society.
Africa’s fragmented payments landscape, marked by multiple currencies, varying regulations, and limited banking infrastructure, has long slowed financial inclusion. In this system, a trader in Lagos might wait weeks for funds from Nairobi, while a Ghanaian student in the United States could lose a significant portion of tuition to intermediary charges. For many, especially in rural or informal sectors, formal banking channels were out of reach, forcing reliance on informal and risky alternatives.
Recognising the need for change, Access Bank, one of Africa’s largest and most innovative financial institutions, has partnered MasterCard, a global payments leader, to reimagine how money moves across borders. The collaboration aims to make cross-border payments faster, cheaper, and more transparent, empowering individuals and businesses to participate more fully in the global economy.
“By combining our strengths, we can unlock new opportunities, bridge the financial divide, and create a more inclusive and prosperous future for all Africans,” says Robert Giles, Senior Advisory, Retail Banking at Access Bank.
The partnership leverages Access Bank’s extensive African footprint and its Access Africa platform alongside MasterCard’s global network, treasury infrastructure, and advanced technology, particularly through the Mastercard Move system. Together, they have built an ecosystem that finally delivers on the promise of speed, convenience, and reliability.
The solution is designed to be inclusive and versatile, allowing users to send and receive money via multiple channels: bank accounts, cards, mobile wallets, and even cash. Whether a student in Ghana paying tuition in Europe, a trader in Lagos importing goods from China, or a family in Kenya receiving remittances, cross-border transactions are now simpler and safer.
For MasterCard, the goal extends beyond expanding services; it is about deepening financial inclusion. “This partnership transforms payment experiences, extending MasterCard’s digital ecosystem to ensure millions from underserved communities can participate in the evolving digital economy,” says Mark Elliott, Mastercard’s Division President for Africa.
The alliance builds on mutual strengths, Access Bank’s deep local knowledge and MasterCard’s global reach, to create a seamless payments corridor connecting Africa to the world.
A critical element of this innovation is the technical integration led by Fable Fintech, a MasterCard Express Partner under the Move Programme. Integrating Access Bank’s operations across multiple African markets was a massive undertaking, given diverse currencies and regulatory frameworks. The result is a unified cross-border payment experience, reducing complexity and delays.
“We were fortunate to be the fulcrum of the seamless multi-country integration of one of Africa’s largest banks using MasterCard’s cross-border assets,” a Fable Fintech representative noted. The platform now supports real-time or near-real-time transactions, offering resilience, scalability, and strong fraud protection.
Apart from technology, this partnership signals a paradigm shift, from dependency to empowerment, from financial fragmentation to unity. By democratising access to affordable and transparent payments, Access Bank and MasterCard are enabling millions of Africans to engage in international trade, education, and family support. The impact is tangible: faster transactions, lower costs, and increased financial inclusion.
Already, the ripple effects are visible. Informal traders in Kigali now use formal financial channels instead of risky agents. SMEs in Nairobi can settle invoices with international clients more predictably. Families in Accra receive remittances with less worry about lost payments, while students overseas manage tuition with ease. Each transaction strengthens Africa’s participation in global commerce.
The partnership also prioritises financial literacy and empowerment. Recognising that technology alone isnot enough, Access Bank and MasterCard are educating users on digital payments, security, and the benefits of financial inclusion, particularly in underserved communities where awareness gaps remain.
The collaboration aligns with broader socio-economic goals such as job creation, poverty reduction, and gender inclusion. By expanding access to finance, it empowers women entrepreneurs, youth, and small businesses to thrive. A woman running a rural enterprise can now receive payments from clients abroad and reinvest in her community; a young professional can more easily fund studies or start a venture. The result is a more inclusive and resilient African economy.
This initiative also complements Access Bank’s wider sustainability agenda, seen in projects like the Access Clean Water Initiative, which integrates financial inclusion with social impact. The Bank’s approach underscores that responsible banking and profitability can go hand in hand.
Access Bank and MasterCard are looking at scaling their innovation, embrace emerging technologies, and deepen collaborations with governments and development partners to expand access even further. As Africa’s economies evolve, agile and secure payment systems will be essential to sustaining growth.
The partnership stands as example of what is possible when business, technology, and purpose converge. By harnessing shared vision and innovation, Access Bank and MasterCard are redefining Africa’s role in the global payments ecosystem, breaking down financial barriers and enabling millions to connect, trade, and thrive across borders.
By Adedapo Adesanya
Top financial services provider in Nigeria, Stanbic IBTC, has reiterated its commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.
This came on the back of the 2026 edition of the Nigeria Business Summit from Wednesday, April 1 to Thursday, April 2, 2026, at the Landmark Event Centre, Victoria Island, Lagos. The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.
With the theme, Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.
The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.
“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”
He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.
Mr Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination.
He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.
Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.
Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and trade, as well as renewable energy, provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.
Speaking at the event, Mr Chuma Nwokocha, chief executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Mr Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.
“This summit has reinforced the importance of creating platforms where ideas can flourish, and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.
The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.
Mr Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.
“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries,” he said.
He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences, describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.
The Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who was represented by Mrs Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day.
“Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”
She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
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