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Access Bank, Mastercard Join Forces to Expand Opportunities for Cross-Border Payments for African Businesses and Consumers

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L-R: Folasade Femi-Lawal, Country Manager, West Africa, Mastercard; Mr. Roosevelt Ogbonna, Group Managing Director, Access Bank; Mark Elliott, Division President, Africa, Mastercard, and Chizoma Okoli, Deputy Managing Director, Access Bank, at the Mastercard and Access Bank Cross-Border Payments Solution Media Briefing on May 8, 2024, in Lagos, Nigeria.
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Access Bank Group, one of Nigeria’s leading multinational bank has launched an innovative solution in collaboration with Mastercard to expand access to cross-border payments and remittances to and from the continent, bringing Africa closer to the global economy. By leveraging the network and treasury capabilities of Mastercard Move, Access Bank, through its cutting-edge Access Africa platform, shall empower individuals and businesses to enjoy instant, traceable, seamless, and cost-effective international transactions.

L-R: Folasade Femi-Lawal, Country Manager, West Africa, Mastercard; Mr. Roosevelt Ogbonna, Group Managing Director, Access Bank; Mark Elliott, Division President, Africa, Mastercard, and Chizoma Okoli, Deputy Managing Director, Access Bank, at the Mastercard and Access Bank Cross-Border Payments Solution Media Briefing on May 8, 2024, in Lagos, Nigeria.

L-R: Folasade Femi-Lawal, Country Manager, West Africa, Mastercard; Mr. Roosevelt Ogbonna, Group Managing Director, Access Bank; Mark Elliott, Division President, Africa, Mastercard, and Chizoma Okoli, Deputy Managing Director, Access Bank, at the Mastercard and Access Bank Cross-Border Payments Solution Media Briefing on May 8, 2024, in Lagos, Nigeria.

Effective today, the newly launched solution will be operational across Africa, with expansion plans in place for further penetration across the continent. The solution offers a global gateway for businesses and individuals that are leveraging Access Bank Group’s deep understanding of the African markets and forward-looking vision that aims to realise customers aspirations through innovative product sets. Stitching together Mastercard’s multiple complementary network assets and the treasury capabilities of Mastercard Move, this collaboration offers customers more choices with their payment means.

Cross-border remittances continue to play an important role in Africa’s economy, with flows to Sub-Saharan Africa increasing by approximately 1.9% in 2023 to $54 billion as a result of strong remittance growth in Mozambique, Rwanda and Ethiopia, with Nigeria accounting for 38% of the remittance flows. In 2024, remittance flows to the region are projected to increase by 2.5%. B2B Cross Border payments serve as a lifeline to a large section of businesses who are reliant on regional and international trade to fuel the growth of the African economies.
“We are thrilled to collaborate with Mastercard to advance financial inclusion in Africa through the Access Africa initiative,” said Robert Giles, Senior Advisory, Retail Banking, Access Bank. “By combining our strengths, we can unlock new opportunities, bridge the financial divide, and create a more inclusive and prosperous future for all Africans.”

Customers in Access Bank’s operating countries in Africa, are now enabled to send and receive cross-border payments globally through to and from various channels including bank accounts, mobile wallets, cards, and cash.

“Empowering Access Bank customers with innovative solutions that prioritize choice, security, and flexibility is an achievement that fills us with great pride. This collaboration signifies our commitment to transforming payment experiences as it not only brings cutting-edge payment solutions to the bank’s diverse clientele, but also extends the reach of Mastercard’s financial and digital ecosystem, ensuring millions from underserved communities can actively participate in the evolving financial and digital economy,” adds Mark Elliott, Division President for Africa at Mastercard.

Fable Fintech, an Express Partner of the Mastercard Move Partner Program, was the technical implementation partner of the solution, effectively collaborating with both Access Africa and Mastercard Move experts. Naushad Contractor, Co-Founder and CEO of Fable Fintech added: “We were fortunate to be the fulcrum of the seamless multi-country integration of one of the largest banks in Africa using the network and resilience of Mastercard’s cross-border assets. We look forward to working on more innovative solutions that will empower the lives of African customers and businesses.”

This groundbreaking collaboration represents a significant step towards creating a more inclusive financial ecosystem in Africa, with both parties determined to continue actively leveraging their collective strengths, resources, and expertise to drive meaningful change and financial inclusion for millions across the continent.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Vitel Wireless Partners Fintechs to Expand Access to Services

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Vitel Wireless has entered into partnership with OPay Limited and Moniepoint Limited, to expand access to airtime and data services, particularly in Nigeria’s underserved and rural communities.

Vitel Wireless Partners Fintechs to Expand Access to Services

The collaboration enables millions of customers on both fintech platforms to seamlessly purchase Vitel Wireless airtime and data directly from their bank accounts and digital wallets, a move designed to simplify access and improve connectivity nationwide.

Chudi Nwabueze, chief operating officer, Vitel Wireless, said the initiative highlighted the growing convergence between financial services and telecommunications in Nigeria.

He noted that by leveraging the expansive reach and infrastructure of fintech platforms, the company is removing long-standing barriers to mobile access.

Nwabueze added that the move builds on Vitel’s existing partnerships with traditional financial institutions such as Fidelity Bank and Zenith Bank, extending its footprint into the rapidly growing fintech ecosystem.

“This integration allows users to conveniently top up airtime and purchase data bundles through familiar banking and wallet platforms, improving accessibility and overall user experience,” he said.

Also speaking,  Odera Ben-Chiobi, product marketing manager, Vitel Wireless, said the partnership aligns with the company’s mission to democratize access to mobile connectivity across Nigeria.

According to her, the collaboration will bring telecom services closer to millions of Nigerians, especially in areas where access has historically been limited.

She added that combining telecom services with digital financial platforms will also support broader financial inclusion efforts.

Vitel Wireless currently operates nationwide through a network-sharing agreement with MTN Nigeria, leveraging MTN’s infrastructure to deliver its services across the country.

The company noted that the partnership reflects a shared commitment to inclusive growth, with the potential to accelerate both financial inclusion and digital connectivity across Nigeria.

 

 


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Reps Claim NCC’s Weak Regulatory Oversight Responsible for Poor Telecom Services

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House of Representatives on Wednesday claimed that Nigerian Communications Commission’s (NCC)  weak regulatory oversight, was responsible for the country’s ongoing poor telecom service quality.

Reps Claim NCC’s Weak Regulatory Oversight  Resposible for  Poor Telecom Services

The lawmakers accused the NCC of failing to enforce standards that would compel operators to provide reliable connectivity.

They warned that persistent issues like dropped calls, slow data speeds, and network failures pose serious risks to lives and property, particularly during emergencies.

The resolution followed the adoption of a motion of urgent public importance moved by Ahmadu Jaha, representing Chibok/Damboa/Gwoza Federal Constituency in Borno State.

Speaking on the motion, Jaha emphasised the critical role of telecommunications in Nigeria’s economy and daily life, while lamenting the widening gap between subscriber expectations and actual service delivery.

“Telecommunication has become a vital part of everyday life in Nigeria. It connects families, supports businesses, enhances education, and drives economic growth. However, despite its importance, the quality of service provided by many telecom companies remains unsatisfactory,” he said.

Jaha highlighted recurring problems such as dropped calls, poor internet speeds, and failed message deliveries as signs of deeper systemic failures in the sector.“The House is concerned that poor network connectivity is a major issue.

Subscribers frequently experience dropped calls, slow internet speeds, and difficulty sending messages. This affects both personal communication and business operations, leading to frustration and financial losses,” he added.

Lawmakers also expressed dissatisfaction with the high cost of services relative to the quality received.

Jaha noted that Nigerians pay substantial amounts for data bundles that are quickly depleted due to unstable connections and frequent interruptions.

He further pointed to inadequate customer service, where complaints often go unresolved for long periods, hindering emergency communications during fire outbreaks, medical emergencies, or accidents.

The lawmaker attributed part of the problem to insufficient infrastructure expansion, especially in growing urban centres and underserved rural areas.

“Network congestion during peak hours and in densely populated areas shows that infrastructure development has not kept pace with the growing number of users,” he said.

Supporting the motion, George Ozodinobi, deputy minority whip, accused telecom operators of prioritising profits over service quality while faulting the NCC for regulatory complacency.

“It is like these companies have made enough profits in billions, and so, they don’t care about improving the network anymore. The NCC, the regulator, has become complacent,” Ozodinobi stated.

Despite the sector’s rapid growth from under one million lines in the early 2000s to over 200 million active subscriptions today challenges such as insufficient base stations, unreliable power supply, multiple taxation, and infrastructure vandalism continue to hamper service quality.

In its resolution, the House urged telecom companies to invest in modern infrastructure, expand coverage especially in rural communities, improve customer service, and adopt fairer pricing that reflects actual service quality.

The lawmakers also directed the NCC to enforce stricter quality-of-service standards and hold operators accountable.

They further resolved to set up an ad-hoc committee to investigate the root causes of poor service delivery and recommend appropriate legislative measures.

 

 


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GSMA Africa Policy Group Chair Calls for Urgent Tax Reforms to Accelerate Digital Inclusion

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Mr. Daddy Mukadi, the Chief Regulatory Officer of Airtel Africa and Chair of GSMA Africa’s Policy Group, has called on African governments to recognise telecommunications as a core economic pillar and to implement two specific tax reforms that could dramatically accelerate digital inclusion across the continent.

Speaking at the first edition of the États Généraux du Secteur des Postes et Télécommunications in Kinshasa, DRC – an event convened to support the development of a strategic roadmap for the country’s digital and telecommunications sector and attended by H.E. President Félix Tshisekedi – Mukadi, who’s also a member of the GSMA Global Policy Group, urged government and industry stakeholders to rethink the role of telecommunications in national development.

He argued that it should be framed not as a sector specific concern, but as a continent-wide imperative.

“The telecoms sector can no longer be considered merely as a support sector,” Mukadi said. “It is now a core sector. Both are vital, and every other sector, from security and finance to transport and health, depends on digital technology for growth.”

His remarks come at a critical moment for Africa’s digital economy. According to the GSMA’s Mobile Economy Africa 2025 report, the mobile sector contributed US$220 billion to the continent’s economy in 2024. This is equivalent to 7.7% of GDP and is projected to reach US$270 billion by 2030.

Yet despite mobile networks now covering 95% of Africa’s population, nearly 75% of people across the continent remain offline.

The GSMA identifies this gap as Africa’s greatest connectivity challenge, driven above all by the unaffordability of devices.

Mr. Mukadi, therefore, called for strategic adjustments to public policy, as well as legal and regulatory frameworks, to support wider access to digital services.

He asserted that the telecommunications sector should be treated as a foundational pillar of economic development, with stakeholders working together to accelerate investment, expand coverage and close the usage gap across the continent.

The Chief Regulatory Officer of Airtel Africa also highlighted key barriers to digital inclusion, including the affordability of smartphones and the impact of import duties on telecommunications infrastructure.

He proposed a two-to-three-year exemption on import duties and taxes for entry-level smartphones priced between US$40 and US$150 to help bridge the usage gap. He also called for the removal of entry duties on telecommunications equipment for at least three years to support the expansion of network coverage.

According to him, “these measures would help deliver inclusive and sustainable digital technology for economic and social progress,” Mukadi said. “They would also support faster connectivity, improved access and the ability to connect more people, businesses and communities to the digital economy.”

He added that government and the private sector must work closely to create a regulatory environment that encourages innovation, protects consumer interests and supports long-term investment.


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