Ecobank Group’s RapidCollect™ enables businesses to collect payments across Africa with a single account RapidCollect™ meets the needs of business customers across Africa as the continent stands at a unique time in its history

With a single account, corporate clients can receive funds instantly from their clients in their home country and on Ecobank’s pan-African network (www.Ecobank.com); Ecobank corporate clients can now perform instant automated reconciliation leveraging Ecobank’s trusted technology

The pan-leaderAfrican banking group, Ecobank Grouphas simplified collections through Africa through RapidCollect(TM). RapidCollect(TM) enables Ecobank’s corporate clients to receive payments from their customers in their home country and across Ecobank’s network of 33 affiliates, instantly and at lower cost than any other current cross-border solution.

RapidCollect(TM) meets the needs of professional customers through Africa, because the continent is at a unique moment in its history. Immense opportunities for trade, investment and economic growth are driven by African continental free trade. Commercial zone (AfCFTA) of a Single African Market. The Economic Commission for Africa predicted that the AfCFTA will boost intra-African trade by around 40%[1].

Josephine Anan-AnkomahGroup Head, Commercial Banking, Ecobank said “With the African Continental Free Commercial zone offering incalculable business growth opportunities for African businesses, it is imperative that payment and collection infrastructure proactively meets the needs of small and medium-sized businesses on our continent by facilitating their cross-border trade. Ecobank’s Rapid-Collect(TM) reinforces our resolve to break down intra-African trade barriers by providing a fast, innovative, secure, hassle-free and reliable collection solution for our SME clients that leverages scale and the collective strength of our 33 countries. pan-African network”.

Isaac Kamuta, Group Head, Payment Services, Cash Management and Client Access, Ecobank Group added: “The launch of RapidCollect(TM) reaffirms our leadership as the best cash management bank in Africa. It provides a fast, innovative, secure and reliable solution to our customers that leverages the collective scale and strength of our pan-African network of 33 countries. Our clients only need an Ecobank account in their home country, rather than needing an account in each country they are trading in. It removes the delays previously inherent in cross-border trade payments and solves the problems created by fluctuating exchange rates. »

With RapidCollect, Ecobank’s commercial and corporate and investment banking customers enjoy the convenience of:

one account to receive hassle-free business payments from our network of 33 countries instant payments to their Ecobank account in their home country and to our automated reconciliation network for our businesses with capabilities to integrate their billing system transactions secured via Ecobank’s proven and reliable technology facilitate cross-border payments to seize the opportunities of the AfCFTA continental single market

RapidCollect(TM) is available at Ecobank branches and it is already integrated into our digital channels. The solution is subject to the regulations of each country.

More information, visit https://bit.ly/3AWpCFB

Distributed by APO Group behalf Ecobank.

[1] Continental African Free Commercial zone (AfCFTA) to dramatically increase traffic flows on all modes of transport | United Nations Economic Commission for Africa (uneca.org) (https://bit.ly/3TMVLb4)

Media Contact:Christiane BosomGroup Communications Manager
Email: [email protected]
Tel: +228 22 21 03 03

About Ecobank Transnational Incorporated (“ETI” or “The Group”):
Ecobank Transnational Incorporated (“ETI”) is the parent company of the Ecobank Groupfirst independent pan-African banking group. Ecobank Group employs approximately 13,000 people and serves more than 32 million customers in the retail, business and corporate banking sectors in 33 African countries. The Group has a banking license in France and representative offices Addis Ababa, Ethiopia; Johannesburg, South Africa; beijingChina; London, the UK and dubaithe United Arab Emirates. The Group offers a full range of banking products, services and solutions, including bank and deposit accounts, loans, cash management, advisory, trading, securities, wealth and asset management. ETI is listed on the Nigeria Stock Exchange in Lagosthe Ghana Stock Exchange in Accraand the Regional Stock Exchange of Abidjan. For more information, visit www.Ecobank.com

© African Press Organization, source Press Releases

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