Thunes and Ecobank to launch instant cross-border payments in Africa

Core Insights - Thunes and Ecobank Group have formed a partnership to facilitate instant cross-border payments across Sub-Saharan Africa, integrating banking and fintech systems to simplify fund management [1][2] - The initiative will be rolled out gradually in all 32 countries where Ecobank operates, ensuring compliance with local regulations while linking Ecobank's customer base to Thunes' Direct Global Network, which spans over 130 nations [2][3] - The collaboration aims to empower entrepreneurs and communities in Africa to participate in the digital economy, with Togo being the first market to launch these services [3][4] Company and Industry Developments - The partnership is expected to transform payment processes across Africa, providing faster and more reliable access to liquidity and creating new growth opportunities [4][5] - This initiative builds on a previous memorandum of understanding between Ecobank and Thunes' holding company, TransferTo, aimed at enhancing access to financial services and reshaping cross-border payment landscapes [5] - Thunes has also recently launched real-time cross-border payment services in Colombia, indicating its expanding global footprint [6]