Ecobank Transnational Incorporated and Nium, a global fintech business that specialises in cross-border payments, have partnered strategically to provide real-time payment capabilities in 35 African markets. The agreement, which will enable 35 Sub-Saharan African nations to have access to smooth, effective international transactions, was signed last week by the Group CEO of Ecobank, Jeremy Awori and EVP of Nium, Anupam Pahuja, at the Singapore Fintech Festival.
This partnership easily combines Nium’s cutting-edge payment solutions with Ecobank’s current SWIFT messaging infrastructure. Because of this, Ecobank’s procedure is made simpler and the user experience is improved by enabling rapid payment settlement and tracking without the need for further API connectivity.
While announcing the partnership on its LinkedIn page on Monday, Ecobank stated, “We are leveraging our unique API- based payment platform and Nium ‘s real-time payments infrastructure to enable businesses and consumers to make faster payments to over 220 markets, including real-time transactions in more than 100 countries.
“This partnership marks an important milestone in our journey to transform the cross-border payment experience for millions in Africa.”
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What Ecobank’s customers stand to benefit from the partnership
With this collaboration, Ecobank’s customer base will have access to more than 220 global marketplaces and take advantage of real-time settlement in 100 nations. The underlying infrastructure facilitates card issuance in 34 countries, supports collection services in 40 markets, settles payments in 15 minutes, and can handle transactions in 100 different currencies.
“Through this collaboration, Ecobank will leverage Nium’s advanced infrastructure to enable faster, more efficient international payments for over 32 million customers. By connecting its existing Swift workflows to Nium, Ecobank gains access to real-time transfers, updates, clearing, settlement, and payment tracking — without complex API integrations.
“We have a mission to enhance global financial inclusion, offering access to real-time payments in regions where traditional banking systems may be limited. With this partnership, we’re setting a new standard for cross-border payments across Africa,” said Nium.
Sub-Saharan Africa’s small and medium-sized businesses (SMEs) are the main focus of this collaboration. Its objective is to make Ecobank’s commercial clients’ payment services more efficient and better. The partnership intends to give SMEs effective, dependable, and scalable financial solutions that can spur growth throughout the continent by utilising Nium’s worldwide reach and Ecobank’s strong local presence.
About Ecobank Transnational Incorporated
Ecobank Transnational Incorporated (ETI) is the parent company of the Ecobank Group, a top independent pan-African banking firm.
With over 14,000 employees, the Ecobank Group provides consumer, business, and corporate banking services to about 20 million clients in 35 African nations.
In addition to representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the United Kingdom; and Dubai, the United Arab Emirates, the Group holds a banking licence in France.
Bank and deposit accounts, loans, cash management, advising, trading, securities, wealth, and asset management are all among the comprehensive banking products, services, and solutions that the Group provides.
ETI is listed on the Bourse Régionale des Valeurs Mobilières in Abidjan, the Ghana Stock Exchange in Accra, and the Nigerian Stock Exchanges in Lagos.
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About Nium
Prajit Nanu founded Nium, which now holds regulatory licenses in 40 countries and is a major participant in cross-border payments.
Its payout network covers more than 220 marketplaces, 100 of which are in real-time, and supports 100 currencies. In 35 locations, funds can be collected locally and disbursed to accounts, wallets, and cards. 34 nations currently provide Nium’s expanding card issuing service.
Regardless of location, Nium’s regulatory licenses and authorisations in over 40 countries allow for quick integration, smooth onboarding, and compliance. San Francisco and Singapore share the company’s headquarters.