Leading African digital payments company DPO Group has officially partnered with Bank of Kigali, a leading commercial bank in Rwanda, to onboard eCommerce merchants for the bank.
The new partnership will allow Bank of Kigali customers to access efficient eCommerce and payments services through DPO Group’s robust platform. This move is expected to see Bank of Kigali onboard hundreds of new online merchants as well as offering digital payment services to its existing business customers.
DPO has developed its own integrated payments technology to support businesses of all sizes across Africa to make and accept payments securely and swiftly with all currencies and payment methods including via mobile money.
Eran Feinstein, CEO of DPO Group commented, “Our partnership with Bank of Kigali will unlock the rapidly expanding eCommerce market for local businesses and entrepreneurs in Rwanda, driving business growth across the country. Our secure payment platform already allows vendors to make and receive payments risk-free across the continent.”
Joan Karenzi, DPO Country Manager for Rwanda, “Partnerships such as this offer a brilliant opportunity to accelerate growth for entrepreneurs and banks across Africa, allowing them to use our payment technology to accept payment in the currency of their choice.”
Caleb Gakunju, Head of Payments at Bank of Kigali commented, “We are delighted to partner with DPO Group, and feel the platform and technology is the perfect choice to take our e-Commerce offering to the next level. The partnership comes as part of an effort to digitise all of the bank’s services to help our customers access digital products seamlessly and conveniently. DPO’s knowledge and understanding of so many African markets means we are confident we’ve chosen the right partner to take our digital presence and customer offering to the next level.”
According to an article on AllAfrica, it is estimated that across sub-Saharan Africa, the potential size of the e-commerce market will grow to $180 billion by 2025 and over $700 billion by 2050 with a considerable increase from 2020 following the pandemic. In Rwanda, the estimated e-commerce growth is from $0.52 billion in 2020 to $0.97 billion in 2025.