Equity Kenya's Fintech in Ethiopian Bank Talks on Payments
- Finserve eyes part of $4.6 billion remittances sent last year
- Company’s also targeting $120 billion China trade with Africa
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Equity Group Holdings Ltd.’s financial technology unit is in discussions with six Ethiopian banks to collaborate on cross-border mobile payments and e-commerce.
Finserve Africa Ltd., a wholly owned subsidiary of Kenya’s biggest lender by market value, is targeting remittances from three million of Ethiopians living outside the country, Managing Director Jack Ngare said in an interview Monday. Many African nations are eyeing entry into the Horn of Africa nation that’s signaled it’ll open up its economy to foreign investment.