Emerging Markets Payments (EMP), an electronic payments (e-payments) card processing provider in the Middle East and Africa, has won a tender to roll out e-payments processing for taxes and customs fees at the Port of Douala in Cameroon
EMP, which is majority owned by emerging markets private equity company Actis, has committed to pilot the service from next month with the full launch scheduled for autumn.
The scheme, which aims to eliminate cash and reduce fraud, is EMP’s first for both a government and a port in Cameroon. Port Douala is the country’s principal port and also serves neighbouring land-locked countries such as Chad and Central African Republic. Cameroon’s economy is growing and has a healthy pipeline of infrastructure projects that is attracting foreign investment to Doula.
EMP is undertaking the venture after winning a tender organised by the World Bank in collaboration with ‘Guichet Unique’ – an online one-stop-shop that enables importers and exporters to fulfill external payment requirements. Processed by EMP, the cashless system will permit users to make faster transactions by paying customs fees and taxes using an electronic payment card. All fees will be payable using point-of-sale terminals (POS) or a dedicated web site managed by EMP.
“EMP is very focused on e-government opportunities across the African continent and the Middle East,” said Paul Edwards, EMP’s chairman.
“The ePayment project for the Port of Douala in Cameroon is a good example of how a combination of world class technology and expertise can support governments’ drive to move to a more efficient, cashless society. We look forward to the possibility of expanding this unique service to other ports across the continent.”
Data from S&P Global Market Intelligence suggest that the German lender is struggling to meet capital and earnings figures.
Global digital payment volumes are set to reach 426.3bin transactions in 2015, according to the World Payments Report 2016 fromCapgemini and BNP Paribas.
The T+2 Industry Steering Committee (T+2 ISC) has welcomed recent action by the Securities and Exchange Commission (SEC) to propose a rule ... read more