Absa, Network partnership to transform Africa's $230bn payments market

Absa Business Banking and Network International join forces to modernise fleet and commercial card services, combining scale, security, and technology to accelerate financial inclusion across the continent.

By Nhlanhla Muthe

Absa Bank is strengthening its digital payments capabilities through a strategic partnership with Network International, aiming to drive innovation and financial inclusion across Africa.

Absa, one of the continent's banking giant, has collaborated with Network International, an acclaimed fintech enabler, to develop next-generation payment solutions across Africa.

Network International, a renowned digital commerce accelerator in the Middle East and Africa, has been appointed as Absa Business Banking's technology partner in a major collaboration that is likely to transform Africa's digital payments landscape.

The agreement will enable Network to provide Absa with end-to-end payment processing capabilities via its Payments as a Service (PaaS) platform, resulting in fully outsourced managed services. The move comes as Africa's cloud adoption grows, matching the continent's smartphone boom and paving the way for faster, more secure digital payment advances.

Richard Kadiaka, Network International’s Regional Managing Director for Southern Africa – Processing Services, said this new partnership marks a significant milestone for the company in Southern Africa and opens new avenues for growth and innovation. “The growing adoption in cloud technologies has perfectly primed both fintech and traditional financial institutions to turbo-charge digital innovation,” he stated.

Network International’s footprint spans over 50 countries, supporting more than 250 financial institutions and 240,000 merchants. Absa, one of Africa’s largest diversified financial services groups, has banking operations in 10 African markets and offices in major global financial hubs. Together, their combined reach gives them unmatched scale to influence the continent’s financial transformation.

Banie Claasen, Managing Executive for Lending Products at Absa Business Banking, added that a key focus of the collaboration will be the modernisation of Absa’s fleet and commercial card offerings. He stressed that fuel card fraud and rising demand for connected, self-managed payment solutions have created an urgent need for stability, innovation, and enhanced security.

Network’s technology will therefore power card management, transaction switching, integration with fleet software, card tokenisation, digital wallets, and online self-service platforms.

“As the ‘Bank of the Entrepreneur,’ we are committed to delivering seamless, secure, and smart payment solutions to meet our clients’ specific needs. By combining our deep sector expertise with Network International’s leading technology, we’re empowering businesses with enhanced control and security, greater transparency, and a frictionless payment experience,” said Classen.

With Africa’s financial services market projected to reach $230 billion in revenues by 2025, this partnership strategically positions Absa and Network International as key architects of a new digital payments era for the continent.