Thunes, the global cross-border payments network, and Ecobank Group, the leading pan-African financial institution, have announced a collaboration to enable instant cross-border payments for millions of individuals and businesses across Sub-Saharan Africa. This strategic alliance is designed to power faster, broader financial connectivity and accelerate the growth of Africa’s digital economy.
The partnership involves a large-scale integration between the banking and fintech infrastructures, aiming to make it easier for people and businesses to send, receive, and manage money instantly across borders. Faster settlements, simpler access to liquidity, and broader reach are expected to unlock new possibilities for economic growth and participation in the digital economy for entrepreneurs and families across the continent.
Unlocking financial access across 32 countries
This collaboration operationalises a landmark memorandum of understanding signed between Ecobank and TransferTo (Thunes’ holding company) in 2024, which envisioned a fundamental transformation of financial access in Africa. The pan-African deployment will progressively expand across Ecobank’s entire 32-country operational footprint, in line with local regulations in each market.
This phased continental rollout aims to connect Ecobank customers to Thunes’ Direct Global Network, which spans over 130 countries and connects to over 7 billion mobile wallets and bank accounts worldwide.
Peter De Caluwe, co-founder and chief executive officer of Thunes, emphasised the transformative nature of the alliance. “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,” De Caluwe said. “This represents a key milestone in our mission to enable the next billion end users to take part in the global economy.”
Driving borderless banking and financial inclusion
By combining Ecobank’s extensive and deep local presence with Thunes’ trusted Direct Global Network, the partnership empowers entrepreneurs to trade beyond borders and enables families to instantly support loved ones.
Jeremy Awori, chief executive officer of Ecobank Group, stated that the collaboration perfectly aligns with the bank’s mission. “Our collaboration with Thunes perfectly aligns with Ecobank’s mission to provide borderless banking and drive financial inclusion across Africa,” Awori commented. “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.”
The first market to commence operations under this pan-African partnership is Togo, where Ecobank customers can already benefit from instant payments from remittance players globally. This initial launch demonstrates the partnership’s operational readiness as it prepares for systematic expansion across the continent.
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