Banking & Finance

Omobola Hollist is the new director of financial controls. (Image Source: African Development Bank)

The African Development Bank has announced five new senior appointments

The USAID Southern Africa Trade and Investment Hub. (Image source: USAID/Flickr)

TriLinc Global Impact Fund has announced this week that it has approved an additional US$37.5mn in term loan and trade finance facilities to companies operating in Sub-Saharan Africa, Latin America, and Southeast Asia, bringing total financing commitments as of 31 July 2017 to US$356.4mn for business expansion and socioeconomic development through its holdings in Sub-Saharan Africa, Latin America, and Southeast Asia

Gerhard Zeelie of Standard Bank. (Image source: Standard Bank)

Innovative financing solutions realises African real estate opportunity  

(Image source: publicdomaincpictures)

Earthport, the leading payment network for cross-border transactions, has announced that it has partnered with Access Bank Plc, one of Africas foremost financial institutions, to provide delivery of cross-border payment services into Nigeria

Access Bank Plc is one of Nigeria’s leading financial institutions and has a strong focus on servicing the Nigerian diaspora.

This new payment channel has been created in direct response to the need for more effective servicing of remittances and low-value payments sourced from outside the country, which now total an estimated US$19bn per year, representing 4.7 per cent of the country’s GDP2.

The partnership is part of Earthport’s longer term strategy of expansion into the African continent.

Commenting on the partnership, Victor Etuokwu, Executive Director, Access Bank Plc, Nigeria, said: “It is with great pleasure that Access Bank Plc is partnering with Earthport Plc, a reputable global payment network, to meet the needs of our customers who require a sound and reliable international payment platform. As a top player in the remittance industry in Nigeria, our wide branch network and large customer base will be invaluable to this partnership and we are confident that this relationship will be a mutually beneficial one to both parties. This alliance also supports the Bank’s vision of being ‘the world’s most respected African Bank’ and our mantra of speed, service and security.” 

Hank Uberoi, Chief Executive Officer, Earthport Plc, commented: “We are delighted to be partnering with Access Bank to extend our global payment network into Nigeria, which is undergoing a rapid transformation. With this comes a growing demand for efficient cross-border payment services, which Earthport will deliver to this important market, together with innovative solutions for financial inclusion. This is also a significant step in the expansion of Earthport’s global footprint.”