Thunes and Ecobank Launch Instant Payments Across Africa

Thunes and Ecobank Group have announced a significant partnership aimed at enabling instant cross-border payments for millions of individuals and businesses throughout Sub-Saharan Africa. This collaboration follows a memorandum of understanding signed in 2024 between Ecobank and TransferTo, Thunes’ parent company, which envisioned a transformation in financial access and payment solutions across the continent.

Expanding Financial Connectivity

The new alliance will facilitate a large-scale integration between traditional banking and fintech infrastructures. This integration aims to streamline the processes of sending, receiving, and managing money across borders. The partnership promises faster payment settlements, easier access to liquidity, and a broader reach, paving the way for enhanced participation in the digital economy.

As part of this initiative, the deployment will expand progressively across Ecobank’s operational footprint in 32 countries. Each market will adapt the services in accordance with local regulations. This phased rollout intends to connect Ecobank customers to Thunes’ Direct Global Network, which spans over 130 countries and connects to approximately 7 billion mobile wallets and bank accounts globally.

By leveraging Ecobank’s established local presence alongside Thunes’ extensive network, the collaboration aims to empower entrepreneurs to engage in cross-border trade, allow families to support their loved ones instantly, and enable communities to participate in a more dynamic digital economy.

Leadership Perspectives

“This collaboration marks a major development in how we power payments across Africa,” said Peter De Caluwe, Co-Founder and CEO of Thunes. “Thunes’ solutions and Ecobank’s reach are a perfect match. Together, we are delivering faster, more reliable access to liquidity and creating new pathways for growth across Sub-Saharan Africa. This initiative represents a key milestone in our mission to enable the next billion end users to take part in the global economy.”

Jeremy Awori, CEO of Ecobank Group, added, “Our collaboration with Thunes perfectly aligns with Ecobank’s mission to provide borderless banking and drive financial inclusion across Africa. 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.”

The partnership has already begun operations in Togo, where Ecobank customers can now access instant payments from global remittance players. This initial launch highlights the operational readiness of the partnership, as it prepares for systematic expansion throughout the continent.

As Thunes and Ecobank move forward, their collaboration promises to revolutionize the financial landscape in Africa, making digital transactions more accessible and efficient for all.