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UBA Partners MFS Africa On Seamless Digital Payments, Remittances.

UBA Foundation receives leadership award

Africa’s Global Bank, the United Bank for Africa (UBA) Plc and MFS Africa, Africa’s largest digital payments hub, have an­nounced a partnership that will see both institutions offer inno­vative and timely solutions to a wide range of customers, espe­cially in the area of Remittances, Electronic Money Services, SME Payments, as well as integration to businesses for cross border payments.

These services are expected to cover the 20 African coun­tries UBA operates in, which include; Nigeria, Ghana, Kenya, Côte d’Ivoire, Zambia, Tanza­nia, Uganda, Republic of Benin, Burkina Faso, Cameroon, Chad, Congo, the Democratic Republic of Congo, Gabon, Guinea, Libe­ria, Mozambique, Sierra Leone, Mali and Senegal.

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Both organisations signed an MoU at the UBA Head Office in Lagos on Tuesday, heralding the start of a partnership that will be pivotal in leveraging MFS Af­rica’s digital payment hub that connects over 400 million mobile money users to a wide range of partners including Mobile Mon­ey Operators, Money Transfer Organisations, Fintechs, Enter­prise Merchants, and others, to drive distribution of financial services at scale.

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BA’s Group Deputy Manag­ing Director, Muyiwa Akinyemi, who spoke during the signing cer­emony, expressed his excitement at the plethora of offerings that UBA customers will enjoy from the partnership.

“We are very pleased to be partnering with MFS Africa in this venture that will see us offer­ing seamless digital solutions to most of the financial challenges of our customers. UBA is ready and with the value that MFS Afri­ca is known for we are indeed set to dominate the entire banking space in Africa,” Akinyemi said.

He explained that the partner­ship will help to boost an array of services which will include a centralised payment hub that enables cross-border payments across multiple rails through a single integration; Inbound and Outbound cross border remit­tances; SME Payments Digiti­sation; Domestic and Cross Bor­der Corporate Disbursements; Remittance Africa China Corri­dor; Bin Sponsorship and Web Acquiring.  

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