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BankservAfrica and AfricaNenda collaborate for instant and cross-border payments in SADC

BankservAfrica and AfricaNenda collaborate for instant and cross-border payments in SADC | Fintech Finance

BankservAfrica and AfricaNenda are pleased to announce their new partnership to broaden access to the TCIB (Transactions Cleared on an Immediate Basis) payments scheme within the Southern African Development Community (SADC) and beyond with a specific focus to advance digital payments and financial inclusion in Africa.

The synergies between TCIB’s cutting-edge cross-border payments offering and AfricaNenda’s impressive market presence will mobilise TCIB to achieve both organisations’ aspirations of driving trade and financial inclusion goals in SADC.

On 31 July 2021, almost a year ago, the first transaction on the 24/7 TCIB platform went live. This partnership is essential to building the growing network of TCIB collaborators and enablers. AfricaNenda and BankservAfrica will engage in joint advocacy on digital payments targeting public and private stakeholders within the SADC region.

“This partnership is timely as there is an urgent need to take action to ensure that no African is left behind in accessing digital financial services. The extensive experience of BankservAfrica in building and operating interbank payments infrastructure, combined with AfricaNenda’s expertise and know-how, will go a long way in accelerating the development of payments systems that transform Africans’ lives,” said Mr. Akinwale Goodluck, Deputy CEO at AfricaNenda.

“AfricaNenda shares our mutual position for instant, interoperable and inclusive payment systems. We believe this will deepen efforts to enable African cross-border payments and create greater inclusivity to meet the market’s existing needs and for the future. We are very excited for what we will achieve together,” stated Mr. Ruhling Herbst, Executive Head: Africa Business Development at BankservAfrica.

“This collaboration with AfricaNenda marks a significant moment for TCIB for enabling modernised payments in the region, which will act as a catalyst for economic development and bettering lives,” ended Roshan Moonsamy, Chief Financial Officer at BankservAfrica.

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