Nigeria, Barbados to strengthen bilateral ties
NIGERIA and Barbados are hopeful of improved ties by leveraging the partnership between Telnet Nigeria Limited and Barbados companies, Global Integrated Fintech Solutions ( GIFTS) and Ipayanywhere ( IPAY).
The move by the organisations was to transform seamless electronic payment in Africa through anti- money laundering payment processing services, fraud reduction, as well as ipayanywhere solution, an end- to- end mobilebased payment solution that services the government, private sector and consumers.
The partnership was sealed at a signing ceremony between the companies, hosted by Barbados High Commission, Ghana, and Caribbean Export, in collaboration with Export Barbados/ BIDC and CBC TV Channel 8.
Minister of Foreign Affairs and Foreign Trade, Barbados, Dr. Jerome Walcott, who emphasised his government’s commitment to building and deepening commercial diplomacy with countries in Africa, stated that he looks towards enhanced bilateral trade relations between Barbados and Nigeria.
While commending the partnership with Telnet, the Nigerian- based tech company, he said that government’s exploration of a new and dynamic ethos of national development through the stimulation and encouragement of private sector partnerships, was evidenced through the signing ceremony.
According to him, "It allows GIFTS to have access to an initial market of over 200 million people by utilising Telnet’s large database of customers, and permits Telnet to extend its operation’s competencies into the Nigerian fintech space.
This initiative also presents GIFTS with an opportunity to expand the operation of Barbadian homegrown technologies in the near future, as part of the government’s strategy of economic diversification.”
Group Managing Director, Telnet Nigeria Limited, Folorunsho Aliu, said with the partnership, it was sure of expanding anti- money laundering and card services portfolio of products in the financial services.
He said as the fintech space is growing in Nigeria, there was the need to ensure that transactions, consumers, and the financial systems are protected for sustainability and integrity.