The new partnership will allow Bank of Kigali customers to access efficient eCommerce and payments services through DPO Group’s robust platform. This move is expected to see Bank of Kigali onboard hundreds of new online merchants as well as offering digital payment services to its existing business customers.
DPO has developed its own integrated payments technology to support businesses of all sizes across Africa to make and accept payments securely and swiftly with all currencies and payment methods including via mobile money.
Commenting on the development, Eran Feinstein, the CEO of DPO Group said: “Our partnership with Bank of Kigali will unlock the rapidly expanding eCommerce market for local businesses and entrepreneurs in Rwanda, driving business growth across the country. Our secure payment platform already allows vendors to make and receive payments risk-free across the continent.”
Joan Karenzi, DPO Country Manager for Rwanda said that such partnerships offer ‘a brilliant opportunity to accelerate growth for entrepreneurs and banks across Africa, allowing them to use our payment technology to accept payment in the currency of their choice’.
Caleb Gakunju, Head of Payments at Bank of Kigali commented expressed delight for the partnership with DPO Group noting that using the platform and technology is the perfect choice to take the bank’s our e-Commerce offering to the next level.
“The partnership comes as part of an effort to digitise all of the bank’s services to help our customers access digital products seamlessly and conveniently. DPO’s knowledge and understanding of so many African markets means we are confident that we have chosen the right partner to take our digital presence and customer offering to the next level,” he
According to an article on AllAfrica, it is estimated that across sub-Saharan Africa, the potential size of the e-commerce market will grow to US$180 billion by 2025 and over US$700 billion by 2050 with a considerable increase from 2020 following the pandemic. In Rwanda, the estimated e-commerce growth is from US$0.52 billion in 2020 to US$0.97 billion in 2025.
{{About DPO Group}}
DPO Group is a leading African digital payments company operating in over 20 countries across the continent. DPO has developed the technology to enable businesses and individuals across the continent to make payments online and offline with all currencies and payment methods, DPO Group currently works with over 60,000 active merchants, including businesses in the e-commerce and the travel and leisure sectors.
The company was founded in 2006 and since then it has grown to be a Pan-African PSP with more than 400 employees. In 2021, DPO was acquired by Network International, a leading enabler of digital commerce across the Middle East and Africa, in a landmark deal for the African payments landscape. By providing its merchants with the capacity to make and accept payments effortlessly, DPO Group aims to support financial inclusion and economic development on the continent. www.dpogroup.com
{{About Network International }}
Network International comprises of a group of companies and is a leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.
Network International Holdings Plc is the holding company for Network International and the group companies.
{{About Bank of Kigali Plc.}}
Bank of Kigali Plc. is the largest commercial bank in Rwanda, by total assets. In 2017, Global Credit Ratings affirmed Bank of Kigali’s long-term and short-term national scale ratings of AA-(RW) and A1+(RW) respectively with a stable outlook.
The Bank has won several back-to-back international and regional banking awards from Euromoney, The Banker, Global Finance Magazine, and EMEA Finance. Bank of Kigali has been recently awarded “Best Bank in Rwanda” in the Euromoney Awards for Excellence 2021.
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