Verve International, a leading payment card brand with origins in Nigeria, has officially announced its expansion into Kenya.
The expansion, which is in partnership with the Kenya Commercial Bank, is in line with Verve’s goal to become Africa’s leading payment card brand. Via the partnership, Verve will spread its card acceptance and payment services to six key East African markets, starting first with Kenya before spreading to Tanzania, Burundi, South Sudan, Rwanda. The partnership also includes an integration into existing operations in Uganda.
The announcement of the expansion was made at an official launch in Nairobi, Kenya. Said Charles Ifedi, Chief Executive Officer, Verve International:
“Expansion of Verve acceptance across Africa and around the world is part of the long-term strategic vision for our business. It will also foster closer business partnerships between East and West Africa and improve the ease of doing business on the continent, thereby encouraging even stronger growth. We have created Africa’s first truly global payment card brand and an important symbol of Africa’s economic power.
Self-acclaimed to be Nigeria’s biggest payment card brand — and technically so — Verve has managed to acquire over 30 million payment tokens with its cards currently being issued by over 40 banks in Africa.
Nigerian startups raised $55.4m in Q1 2020; over 99% of which came from foreign sources. Find out more when you download the full report.
Subscribe to the Techpoint Africa Newsletter for weekly updates