By streamlining cross-border payments and reducing reliance on third-party currencies, initiatives like these promote financial inclusion and stability. 

This partnership is poised to significantly narrow the financial inclusion gap, streamlining the processes of money transfer, savings, and credit accessibility for individuals.

This partnership marks a significant milestone in the digital financial landscape for Mali, connecting over 12 Million Malians to the vast diaspora residing across the globe.

Diamond Trust Bank and Mastercard have forged a partnership that lets the bank offer payment cards to tech-enabled companies, including fintechs in Kenya. 

Per the statement, the pledge will further scale Visa’s operations in Africa and deepen collaboration with strategic partners, including governments, financial institutions, mobile network operators, fintechs and merchants.

The move is expected to boost digital payment acceptance at small and micro enterprises in Nigeria, Ghana, Kenya, Uganda, and other key markets in Sub-Saharan Africa.

Nigeria is looking to real-time payments to help drive economic growth and financial inclusion as its volume of real-time transactions surged year-on-year by 94.7 percent to 3.7 billion in 2021.

Services the bank will offer include accepting deposits from individuals and small businesses, carrying out payment and remittance services within Nigeria, issuing debit and prepaid cards and more. 

The company aims to solve the problem of informal areas not having access to payments systems in the digital age.

New offering combines electronic cross-border payments and associated documentation on same platform, cutting days off execution of cross-border payments in South Africa.