MFS Africa, Africa’s digital payments network has rebranded to Onafriq. According to Dare Okoudjou, founder and CEO the trademark MFS belongs to another company in the US, and their ability to use it outside of Africa was becoming difficult.
“With this new name, we can bring everybody together under one brand and identity.
The company says the decision to rebrand also comes after significant growth and several acquisitions, including the recent acquisition of GTP, which expanded the company’s reach to the US market.
”We’ve expanded beyond just mobile financial services, becoming a true omni-channel platform across the continent and beyond. As we embark on this next phase of our journey, we wanted a name that reflects our aspiration of wiring up the whole continent into one network of networks with pathways from and to every African and every African business.” Okoudjou said.
Okoudjou further added “From the get-go, my goal was to build a payment infrastructure that touches every corner of Africa and that lasts for over 100 years. My hope is that we get to do that and that we get to make borders truly matter less.”
In today’s fragmented payment landscape, the complexity surrounding cross-border transactions often impedes the free flow of money and inhibits international trade. Onafriq, aims to break down these barriers, paving the way for economic growth and empowerment.