DPO Group, a leading African digital payments company, has announced its partnership with Bank of Kigali (BK) to on-board e-commerce merchants for the bank.

The development is set to allow BK customers to access efficient e-commerce and payments services through DPO Group’s robust platform.

DPO Group currently works with over 60,000 active merchants, from 20 African countries.

The group has also 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.

"Our partnership with Bank of Kigali will unlock the rapidly expanding e-commerce market for local businesses and entrepreneurs in Rwanda, driving business growth across the country,” Eran Feinstein, CEO of DPO Group noted in a statement.

Our secure payment platform, Feinstein added, already allows vendors to make and receive payments risk-free across the continent.

Joan Karenzi, DPO Country Manager for Rwanda, echoed similar sentiments, "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.”

Boost to BK’s digital ambitions

The move is also perceived as yet another sign in a series of attempts to boost BK’s digital services as well as customer experience.

Just recently the Bank migrated to a new core banking system in a bid to accelerate the lender’s digital transformation ambitions.

Caleb Gakunju, Head of Payments at Bank of Kigali pointed out, "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,” Gakunju added.

Reports estimate 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.

In Rwanda, the estimated e-commerce growth is from $0.52 billion in 2020 to $0.97 billion in 2025.