African banks are working to enhance client access to real-time data and improve control over cash management. However, companies face significant challenges, including a fragmented regulatory environment, limited financial services access, shallow liquidity, and currency restrictions in some markets.

These factors can result in trapped cash and complicate effective cash flow management, highlighting the need for better data insights and local banking integrations for accurate forecasting and efficient treasury solutions.

Standard Bank, recognized as the Best Bank for Transaction Banking this year, has been advancing its OneHub business platform to enhance corporate clients’ capabilities. The bank is focusing on integrating payment features into client apps and platforms, leveraging AI, machine learning, cloud computing, and API integration to offer valuable services.

Kent Marais, Head of Payments and Cash Management at Standard Bank, notes, “In today’s fast-paced business environment, clients require payment solutions that are fast, efficient, reliable, and secure. These solutions must quickly adapt to changing needs and provide greater visibility and control over payment flows. A modern technology stack that is modular, API-driven, cloud-ready, and utilizes data and AI is crucial for meeting client demands and staying competitive.”

Ecobank Transnational has been awarded as the Best Bank for Cash Management, Best Corporate Cross-Border Payments Solution, and Best Bank for Payments. The bank’s Omni Plus platform, used for corporate and investment banking, has seen a 10% increase in usage as African businesses seek improved cash management transparency and controls.

CIB, named Best Bank for Collections, offers clients access to detailed information on incoming payments, cash deposits, and cleared checks through its Business Online platform. This capability simplifies reconciliation and enhances accounts receivable management. The CIB CashConcentration module provides real-time insights into cash deposits, integrated with the Teller Core system for detailed reconciliation.

Bank ABC is recognized as the Best Bank for Long-Term Liquidity Management, expanding its cash management capabilities in the Middle East and North Africa. Following its merger with Blom, Bank ABC has significantly increased its market share in Egypt and enhanced its regional innovation capabilities.

CI Capital Asset Management has been named Best Provider of Short-Term Investments/Money Market Funds. Its portfolio includes Egypt’s only foreign currency-denominated money market funds, and the largest money market fund in Egyptian pounds. CI Capital also offers the Fawry Yawmy money market fund, available through numerous retail points of sale, which promotes financial inclusion with a low entry minimum and 24/7 redemption options.

Despite Africa’s vast resource potential, including renewable energy, its diverse and complex economic landscape requires skilled navigation. A specialized banking partner can support effective treasury management and help companies capitalize on emerging opportunities.