The International Association of Money Transfer Networks (IAMTN) is proud to announce that Groupement Interbancaire et Monétique de l'Afrique Centrale (GIMAC) has joined as its newest member.
The Groupement Interbancaire et Monétique de l'Afrique Centrale (GIMAC) is an economic interest group whose statutory members include the Bank of Central African States, national treasuries, and credit institutions in the CEMAC zone. Additionally, postal administrations, financial institutions, microfinance institutions, payment institutions, and money transfer companies can join upon request. Fintech companies can also participate in the GIMACPAY ecosystem as value-added service aggregators.
GIMAC's mission is to popularise integral electronic banking, improve bank penetration rates, promote financial inclusion through prepaid and mobile products, and reduce transaction costs to make these payment methods accessible to low-income individuals. GIMAC has implemented GIMACPAY, a convergent card, mobile, and money transfer ecosystem that unifies all electronic payment systems and methods within the CEMAC region. The GIMACPAY ecosystem provides interoperable services to the people of CEMAC.
Valentin Mbozo’o, Managing Director of GIMAC, stated: “GIMAC’s membership in IAMTN marks a decisive turning point in our expansion beyond the CEMAC zone. We began this process with the remittance service, which has since become one of our flagship services. As a Gold member, GIMAC intends to act as a bridge between international fintechs and credit institutions, operators, and payment institutions. I invite you to join our ecosystem, which is actively working to promote financial inclusion.”
Veronica Studsgaard, CEO of IAMTN, highlighted the importance of this partnership: “Adding a strategic partner like GIMAC to the IAMTN network is incredibly important. GIMAC's extensive experience and innovative approach to financial inclusion will greatly benefit our network. Their commitment to enhancing financial connectivity aligns perfectly with IAMTN's goals, and we look forward to the positive impact this collaboration will bring.”
GIMAC’s collaboration with IAMTN underscores its commitment to enhancing financial connectivity and inclusion across Central Africa and beyond.
About GIMAC:
The Groupement Interbancaire et Monétique de l'Afrique Centrale (GIMAC) is an economic interest grouping whose statutory members are the Bank of Central African states, national treasuries and credit institutions in the CEMAC zone. Postal administrations, financial institutions, microfinance institutions, payment institutions and money transfer companies can also join on request. Fintechs can also become Participants in the GIMACPAY ecosystem as value-added service Aggregators.
For more information, visit https://gimac-afr.com/
About IAMTN:
Founded in 2005 by Veronica Studsgaard, the International Association of Money Transfer Networks (IAMTN) unites payment industry stakeholders to address common challenges and create opportunities. We work with members and partners to develop safer, cheaper, more accessible, and transparent payment systems. IAMTN bridges the gap between the public and private sectors, organising events to drive industry innovation. Our initiatives promote best practices, reduce remittance costs, and foster financial inclusion through competition and new technologies. We actively engage with regulators and policymakers to advance industry goals.
To learn more about IAMTN: Please visit www.iamtn.org
