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Guaranty Trust Holding Company has received final approval of the Central Bank of Nigeria (CBN) for its planned Payment Subsidiary, HabariPay Limited.
Commenting on the new subsidiary, Segun Agbaje, Group Chief Executive Officer 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.”
He stated further that: “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 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.
All regulatory approvals have been obtained for the commencement of operations of the Company, according to GTCO Plc in a filing to the Nigerian Exhange Limited.