FinTech

How Nigeria’s SystemSpecs Inked $93.7 million Deal with Sudan-based Trinity Technologies

SystemSpecs

The Managing Director of Afreximbank Intra African Trade, Mrs Kanayo Awani, has said Afreximbank facilitated the partnership between Nigeria’s SystemSpecs and Trinity Technologies of South Sudan in a deal worth $93.7 at the Intra-African Trade Fair 2018 in Cairo, Egypt.

Mrs. Awani said that the management of Afreximbank is glad to be the “facilitator of this landmark deal between two financial technology organisations in Africa.”

To formally cement the partnership, a Memorandum of Understanding [MoU] was signed between the parties with the Executive Director, SystemSpecs, Deremi Atanda, representing the Nigerian firm.

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Atanda said that the MoU is an opportunity for the collaboration to create value of about $93.7m through the deployment of SystemSpecs’ Remita financial technology solution and services in partnership with Trinity Technologies for the processing of payroll for organisation, payments and revenues collection.

He added that the MoU also covered the provision of national switching and settlement infrastructure and a multi-channel payment gateway for the entire financial industry in South Sudan.

The collaboration will be extended to cover the provision of biometric-driven payroll technology for public and private sector salary processing and the development of data verification and referencing system,” he added.

The South Sudan-based fintech firm, Trinity Technologies, specializes in the design and development of innovative financial services, online transactions, mobile payment systems and innovative solutions for commercial banks in the country.