FinTech company Thunes and pan-African bank Ecobank joined forces to launch an instant international payment system that will cover 32 African countries and connect users across the continent to a global network of 7 billion mobile wallets and bank accounts.
Thunes, a global payment solutions provider, and Ecobank Group, Africa’s largest financial group, announced a strategic partnership that will enable millions of individuals and businesses in the region to make instant cross-border transfers.
The partnership marks a new stage in integrating banking and FinTech infrastructure across Africa, allowing users to send and receive money instantly, improving access to liquidity, and speeding up settlements between countries. The system will be gradually rolled out across all 32 Ecobank markets, taking into account local regulatory requirements.
By connecting Ecobank’s customers to Thunes’ global network, which spans over 130 countries and more than 7 billion mobile wallets and bank accounts, entrepreneurs will gain easier access to international trade, while families will be able to send money to loved ones instantly.
Thunes CEO Peter De Caluwe noted that the collaboration with Ecobank opens new opportunities for economic growth and builds real infrastructure to help the next billion users participate in the global economy. Meanwhile, Ecobank Group CEO Jeremy Awori emphasized that the alliance will help advance the bank’s mission of promoting borderless banking and financial inclusion across Africa.
The system was first launched in Togo, where Ecobank customers can now receive instant transfers from international operators. This launch demonstrates the readiness of the large-scale project, which will expand across the continent in the coming months.
In November 2024, Ecobank Group also announced a partnership with payment platform Nium to facilitate seamless cross-border payments for small and medium-sized enterprises across African markets and simplify international money transfers worldwide.
