Thunes and Ecobank Launch Instant Payments Across Africa

Thunes and Ecobank Group have announced a strategic partnership aimed at providing instant cross-border payments for millions across Sub-Saharan Africa. This collaboration follows a memorandum of understanding signed in 2024 between Ecobank and TransferTo, Thunes’ parent company, which laid the groundwork for transforming financial access and payment solutions on the continent.

Enhancing Financial Connectivity

The alliance seeks to integrate banking with fintech infrastructures, facilitating seamless money transfers for individuals and businesses. By streamlining settlements and improving access to liquidity, the initiative aims to unlock opportunities for growth within the digital economy.

Ecobank operates in 32 countries throughout Africa, and the partnership plans a phased rollout that complies with local regulations in each market. The first market to implement this instant payment system is Togo, where Ecobank customers can now receive immediate payments from global remittance providers. This launch showcases the operational readiness of the partnership, setting the stage for further expansion across the continent.

Connecting Ecobank’s extensive local presence with Thunes’ Direct Global Network, which encompasses over 130 countries and connects to 7 billion mobile wallets and bank accounts, will empower entrepreneurs to engage in cross-border trade. It will also enable families to support loved ones instantly and enhance community participation in a vibrant digital economy.

A Vision for the Future

Peter De Caluwe, Co-Founder and CEO of Thunes, highlighted the significance of this collaboration, stating, “This collaboration marks a major development in how we power payments across Africa. Thunes’ solutions and Ecobank’s reach are a perfect match: together we’re delivering faster, more reliable access to liquidity and creating new pathways for growth across Sub-Saharan Africa.”

Jeremy Awori, CEO of Ecobank Group, echoed this sentiment, noting, “Our collaboration with Thunes perfectly aligns with Ecobank’s mission to provide borderless banking and drive financial inclusion across Africa. By combining our robust banking infrastructure with Thunes’ fintech innovation and trusted Direct Global Network, we’re expanding real-time financial access for millions and driving the growth of Africa’s digital economy.”

This partnership represents a crucial step towards enabling the next billion users in Africa to participate in the global economy, enhancing the overall financial landscape on the continent.