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Guaranty Trust Holding Company (GTCO Plc) said it has obtained approval for the operation of its payment subsidiary, Habari, from the Central Bank of Nigeria (CBN), according to a regulatory filing.
In a statement submitted to the Nigerian Exchange, the group explains that HabariPay Limited is its wholly-owned subsidiary, noting that all regulatory approvals have been obtained for the commencement of operation.
The new subsidiary, according to GTCO will serve to expand the group 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.
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 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 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.
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