Access Holdings, a leading Nigerian financial institution, has joined forces with Safaricom and M-Pesa to revolutionize remittance services across East and West Africa. This strategic partnership, forged in collaboration with Coronation Group, aims to address the existing challenges faced by individuals and businesses when sending money within and between these regions.
By leveraging the combined expertise and resources of these influential players, Access Holdings seeks to streamline cross-border money transfers and enhance the overall remittance experience. This initiative holds significant potential, considering the substantial volume of remittances flowing across the African continent. Nigeria and Kenya, as major recipients in their respective regions, stand to benefit greatly from this improved service.
This collaboration aligns perfectly with the objectives of the African Continental Free Trade Area (AfCFTA), which seeks to foster intra-African trade and economic integration. The initial phase of this project will prioritize key remittance corridors, focusing on Nigeria, Kenya, Ghana, and Tanzania. By simplifying cross-border money transfers, this initiative aims to empower millions of Africans and unlock new economic opportunities.
Access Holdings has been actively expanding its footprint across the continent. In recent months, the company has pursued significant acquisitions, including a potential deal to acquire the National Bank of Kenya from KCB Group. Additionally, Access Bank, a subsidiary of Access Holdings, has agreed to acquire a majority stake in Finance Trust Bank in Uganda
