Guaranty Trust Holding Company Plc (GTCO ), Africa’s leading financial institution has confirmed the receipt of the final approval of the Central Bank of Nigeria (CBN) for its wholly owned payment subsidiary, HabariPay Limited.
Freedom Post reports that GTCO in a notice at the Nigerian Exchange said all regulatory approvals had been obtained for the commencement of the operations of the company.
Commenting on the new subsidiary, Mr Segun Agbaje, Group CEO of GTCO Plc said, “Payments are central to the development of financial services globally and represent a key growth area for the group.
“GTCO Plc has been at the forefront of delivering cutting-edge innovative solutions with its banking franchise and would leverage this capacity to transform the evolving payment space.
“With HabariPay, we have successfully created another pathway towards enhancing the service experience for our customers and creating more value for our stakeholders.
“Our vision is an Africa where every payment is digital, and we hope to achieve this by increasingly leverage technology to improve access to financial services for individuals and empower businesses across Africa with the right digital tools to thrive.”
The notice said the new subsidiary will serve to expand GTCO Plc’s range of services to largely underserved markets in support of the CBN’s financial inclusion drive and contribute to the resilience of the global payment ecosystem.