ACCORDING to a regulatory filing, Guaranty Trust Holding Company (GTCO Plc) has received approval from the Central Bank of Nigeria (CBN) to operate its payment subsidiary, Habari.
The group adds that HabariPay Limited is its wholly-owned subsidiary in a statement to the Nigerian Exchange, stressing that all regulatory permits have been received for the start of operations.
According to GTCO, the new subsidiary would expand the group’s portfolio of services to primarily underserved communities in support of the CBN’s financial inclusion program and contribute to the global payment ecosystem’s resilience.
In a commentary, Segun Agbaje, the Group Chief Executive Officer, said, “Payments are central to the development of financial services globally and represent a key growth area for the group”.
According to Agbaje, GTCO Plc’s banking franchise has been at the forefront of delivering cutting-edge innovative solutions, and the company plans to use this capability to revolutionize 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 leveraging technology to improve access to financial services for individuals and empower businesses across Africa with the right digital tools to thrive”, the Group Chief Executive stated.
