UBA courts MFS Africa for digital payments

Together, the United Bank for Africa (UBA) plc and MFS Africa, the continent’s largest digital payments hub, will provide a wide range of customers with timely and inventive solutions, particularly in the areas of remittances, electronic money services, SME payments, and integration to businesses for cross-border payments.

The 20 African nations that UBA operates in—Nigeria, Ghana, Kenya, Côte d’Ivoire, Zambia, Tanzania, Uganda, Republic of Benin, Burkina Faso, Cameroon, Chad, Congo, the Democratic Republic of the Congo, Gabon, Guinea, Liberia, Mozambique, Sierra Leone, Mali, and Senegal—are anticipated to be covered by the services.

Using MFS Africa’s digital payment hub, which links over 400 million mobile money users to a variety of partners, including Mobile Money Operators, Money Transfer Organizations, Fintechs, Enterprise Merchants, and others, to drive the distribution of financial services at scale, the two organisations on Tuesday in Lagos inked a Memorandum of Understanding (MoU).

In his remarks at the signing ceremony, Muyiwa Akinyemi, the group deputy managing director of UBA, highlighted his enthusiasm for the wide range of benefits that UBA customers will receive from the alliance.