E-Settlement (E-SL), a Nigerian fintech firm, has acquired QuickCash, a Côte d’Ivoire-based e-payment and money transfer startup.
E-Settlement hopes to expand across West African countries such as Côte d’Ivoire, Burkina Faso, Niger, Togo, and other Francophone West African markets with this initiative.
The agreement would broaden E-payment SL’s service offerings, allowing the company to achieve its aim of expanding its footprint across Africa and expanding its agent banking network to 200,000 agents by the end of 2022.
QuickCash, which will now operate as a wholly-owned subsidiary, uses cutting-edge technology to deliver digital financial, agricultural, and educational services. The company focuses on reaching out to disadvantaged people, particularly those with limited access to power, using its products and financial services.
QuickCash is expanding access for agriculturally-dominated areas, rural communities, the underbanked and unbanked – the disproportionately financially excluded, according to Olaoluwa Awojoodu, CEO of E-Settlement.
“We are very happy to partner with a game-changing supplier who shares our vision and purpose and is dedicated to helping the underprivileged achieve their full potential.” We aspire to empower everyone at E-SL by making payments, financial services, and jobs more accessible. We are optimistic that our expansion strategy for QuickCash will assist the company’s long-term growth while also enhancing our collective potential to help many more people.”
“We feel that E-Settlement Limited has the proper vision and deep knowledge to drive QuickCash’s regional development and next stage of growth,” said Patricia Zoundi Yao, CEO of QuickCash. E-SL is a leading payment services company with a significant presence in Nigeria’s fintech sector. E-SL is the perfect fit to build on the achievements we have already achieved in the field of agency banking in Nigeria.”
CashEnvoy, the PayPad mobile point of sale (MPOS) solution, and PayCentre are among E-payment Settlement’s solutions in Nigeria.
While QuickCash will continue to operate independently as a part of the E-SL group, it will benefit from E-technical SL’s skills and industry experience, bolstering its agency infrastructure and coverage across the continent.