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| L-R: Folashade Femi-Lawal, Country Manager, West Africa, Mastercard; Roosevelt Ogbonna, Group Managing Director, Access Bank; Mark Elliot, Division President, Africa, Mastercard; and Chizoma Okoli, Deputy Managing Director, Access Bank, at the Access–Mastercard event in Lagos. |
In a strategic move set to redefine cross-border transactions across Africa, Access Bank Plc has partnered with Mastercard to simplify and accelerate international payments for millions of Africans.
The collaboration aims to make money transfers faster, cheaper, and more transparent — bridging a long-standing financial divide that has hindered trade, education, and remittances across the continent.
For decades, many Africans have struggled with costly, slow, and complex international payment systems. From traders waiting weeks for import payments to students losing funds to multiple exchange fees, cross-border transactions have often been burdensome.
Recognising this challenge, Access Bank — one of Africa’s largest financial institutions — teamed up with Mastercard, a global payments leader, to build a solution that integrates Africa’s fragmented financial landscape.
“By combining our strengths, we can unlock new opportunities, bridge the financial divide, and create a more inclusive and prosperous future for all Africans,”— Robert Giles, Senior Advisory, Retail Banking, Access Bank.
The partnership leverages Access Bank’s vast African footprint through its Access Africa platform and Mastercard’s global network, technology, and treasury infrastructure, particularly through the Mastercard Move system.
Together, they have developed a unified payment ecosystem that enables users to send and receive money via bank accounts, cards, mobile wallets, and cash — ensuring inclusivity across urban and rural populations.
“This partnership transforms payment experiences, extending Mastercard’s digital ecosystem to ensure millions from underserved communities can participate in the evolving digital economy,”— Mark Elliott, Division President, Africa, Mastercard.
Integrating Technology for Real Impact
A major driver of this transformation is Fable Fintech, a Mastercard Express Partner under the Move Programme, which led the integration of Access Bank’s operations across multiple African markets.
The platform now supports real-time or near-real-time transactions, tackling issues of delays and inefficiency.
“We were fortunate to be the fulcrum of the seamless multi-country integration of one of Africa’s largest banks using Mastercard’s cross-border assets,” a Fable Fintech representative said.
Driving Inclusion and Empowerment
Beyond technology, the partnership represents a shift from dependency to empowerment — democratising access to affordable payments and expanding financial inclusion.
The results are already visible: traders in Kigali now use formal channels instead of informal agents; SMEs in Nairobi settle invoices seamlessly; and students abroad manage tuition without hassles.
Access Bank and Mastercard are also promoting financial literacy, teaching users about digital payments and security to deepen financial inclusion, especially in underserved communities.
The initiative aligns with broader socio-economic objectives like poverty reduction, gender inclusion, and youth empowerment, enabling women entrepreneurs and small businesses to thrive in the digital economy.
Access Bank’s sustainability-driven approach, demonstrated through projects such as the Access Clean Water Initiative, reinforces the link between financial innovation and social impact.
As Africa’s economies modernise, both institutions plan to scale the collaboration further, integrate emerging technologies, and partner with governments and development agencies to deepen financial connectivity.
The Access Bank–Mastercard alliance underscores how purpose-driven innovation can reshape Africa’s role in global commerce — making cross-border payments simpler, faster, and accessible to all.