Payments

In a significant move underscoring the dynamics of global finance, the South China Morning Post recently reported that six prominent financial entities have officially joined the Cross-border Interbank Payment System (CIPS) as direct participants. Among them are the African Export-Import Bank, First Abu Dhabi Bank, South Africa’s Standard Bank, Singapore’s United Overseas Bank, Eldik Bank of Kyrgyzstan, and Chongwa (Macau) Financial Asset Exchange. This ceremony, held in the bustling city of Shanghai last week, marks a…

PRESS RELEASE Mogadishu, June 5, 2025 – Premier Bank is thrilled to unveil its upgraded direct SWIFT payment platform—a significant leap forward in the realm of international money transfers. This innovative service will enable both businesses and individuals in Somalia to send and receive funds globally with unprecedented speed, simplicity, and security. For over two decades, the complications surrounding cross-border transactions have lingered like a cloud over the economic landscape. Now, with the launch of this direct…

The Future of Cross-Border Payments The encouraging news is that banks are finally acknowledging the challenges plaguing international money transfers. A striking 62% of them are now actively pursuing partnerships with fintech companies in search of solutions. Let’s face it, when you send money across borders, it shouldn’t vanish into a black hole. In this guide, we’ll delve into the impending transformation of cross-border payments in 2025 and explore how innovations such as blockchain technology and digital wallets are…

Embracing Digital Payments: The Key to Growth in Africa In recent years, a noticeable shift has emerged across continents—from the bustling streets of Lagos to the vibrant markets of Kenya, and even reaching into American boardrooms. Businesses are increasingly recognizing that adopting digital methods is not merely an option; it's essential for growth and sustainability in today's fast-paced world. But what does this transition truly entail for small and medium enterprises (SMEs), freelancers, and online…

Northeastern State's Economic Resilience: An Address by President Said Abdullahi Deni In a stirring address that has resonated throughout Northeastern State, President Said Abdullahi Deni announced a decisive shift in the region's stance on businesses claiming coercion as a pretext for making payments to the Islamic State (ISIS). From this point forward, the administration has vowed to dismantle such financial channels. With a tone underscored by determination, President Deni remarked, "No businessperson will have the…

The Future of Payments and Financial Inclusion Across Africa Founder and CEO, Nkebet Mesele, discusses the launch of Intreensic, a payments education and advisory group, and its significance for payments and financial inclusion across Africa. Exploring Payment Evolution What piques your interest the most about the transformation in payments, and how do women play a role in this journey, particularly in Africa? The payment evolution is indeed fascinating. From my early days in the industry,…