The leading pan-African Banking Group, Ecobank Group, has simplified collections across Africa through RapidCollect.
RapidCollect enables Ecobank’s business customers to receive payments from their clients in their home country and across Ecobank’s network of 33 affiliates, instantly and at a lower cost than any other current cross-border solution.
RapidCollect caters to the needs of business customers across Africa, as the continent is at a unique point in its history. Immense trade, investment and economic growth opportunities are driven by the African Continental Free Trade Area (AfCFTA)’s creation of a single African market.
The Economic Commission for Africa has forecast that the AfCFTA will boost intra-African trade by about 40%.
Josephine Anan-Ankomah, Group Executive, Commercial Banking, Ecobank said “With the African Continental Free Trade Area offering untold trading growth opportunities for Africa’s businesses, it is imperative that the payment and collection infrastructure proactively caters for the needs of our continent’s small and medium-sized businesses by facilitating their cross-border trade. Ecobank’s Rapid-Collect™ further advances our
determination to remove intra-African trade barriers by providing a fast, innovative, secure, hassle-free and reliable collection solution for our SME customers which leverages the collective scale and strength of our 33-country pan-African network”.
Isaac Kamuta, Group Head, Payment services, Cash Management and client access, Ecobank Group added: “The launch of RapidCollect™ reaffirms our leadership as the Best Bank for Cash Management in Africa. It provides a fast, innovative, secure, and reliable solution for our customers which leverages the collective scale and strength of our 33-country pan-African network.
Our customers only need an Ecobank account in their home country – rather than needing an account in every country in which they trade. It removes the delays previously inherent in cross-border business payments and addresses the issues created by fluctuating forex rates.”
Through RapidCollect, Ecobank’s Commercial Banking and Corporate and Investment Banking customers benefit from the convenience of:
- one account to receive business payments hassle-free from across our 33-country network
- instant payments into their Ecobank account in their home country and across our network
- automated reconciliation for our businesses with capabilities to integrate their billing system
- secured transactions via Ecobank’s tried and trusted technology
- easier cross-border payments to seize opportunities from the AfCFTA’s continent-wide single market
RapidCollect™ is available at Ecobank branches and it is already integrated into our digital channels. The solution is subject to the regulations in each country.
Further information, visit ecobank.com/commercial/rapidcollect
Latest Stories
-
35th CIMG Awards: Full list of winners
1 hour -
The Multimedia Group wins big at CIMG Awards 2023
2 hours -
Bernard Mornah wins PNC flagbearship race
3 hours -
Video: Confusion at PNC National Executives election
3 hours -
Rapper E.L. joins King Promise as Guinness Accravaganza headliner for September 21 showdown
4 hours -
PNC Congress: Bernard Mornah leads in Greater Accra Region
5 hours -
Reject violence, divisive rhetoric, embrace peace ahead of elections – Bawumia appeals to Ghanaians
5 hours -
SEFF’s debut single ‘Father’ sets stage for bold new talent
6 hours -
Super typhoon Yagi kills four in Vietnam
6 hours -
Hollard Insurance-UENR Mentoring Day: Students urged to let hard work, integrity shine to advance career
6 hours -
2024/25 GPL: Vision FC opens campaign with draw against Berekum Chelsea
6 hours -
If Baba Yara pitch was good, Mumin clears the ball – Laryea Kingston
7 hours -
GPL 2024/25: Samartex begin title defence with draw against Dreams FC
7 hours -
Financing road construction and maintenance through a special fuel levy: A sustainable solution for Ghana’s road infrastructure
8 hours -
Ghana Celebrity Impact Awards 2024 launched to honor positive social influence
8 hours