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Onafriq eyes global expansion after rebranding from MFS Africa


After rebranding last month, Africa’s digital payments network Onafriq, Formerly MFS Africa, has revealed plans to expand to new markets.    

Speaking to TechTrends Media during an exclusive cocktail at GTC Pan Pacific Suites in Nairobi recently, Dare Okoudjou – Founder & CEO said the company is looking to grow its footprint to global markets to connect more Africans.

‘’Our roots are African but our perspective has always been global so we want to make sure that we not only connect Africans to each other but also to the rest of the world’’ He said.

Currently, he said Onafriq does business in Northern America, China in Europe Australia, and even South Korea. The company cemented its footprints in the U.S. following the acquisition of Global Technology Partners (GTP) in a cash-and-shares deal worth $34 million. 

‘’We expect our brand and our business to be rooted in Africa but to have a global range’’ he said. 

At the cocktail event, Onafriq also spotlighted its transformation journey, of transitioning from MFS Africa to Onafriq, as well as the company’s strategic initiatives for the African market and its valued shareholders.

”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.

Onafriq says Africa’s fragmented payments landscape today hampers cross-border transactions and trade. ‘’At the core of Onafriq’s mission is the determination to overcome these complexities that often impede cross-border transactions. ‘’ 

Currently, Onafriq has over 300,000 agents, in Nigeria, 500 million mobile money wallets, and services 200 million bank accounts with 10 offices across  40 African countries.

The company also supports 1300 cross-border payment corridors and also has 180 MNOs, MTOs and Banks connected to its network. 

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Nixon Kanali

Tech journalist based in Nairobi. I track and report on tech and African startups. Founder and Editor of TechTrends Media. Nixon is also the East African tech editor for Africa Business Communities. Send tips to nkanali@techtrendske.co.ke.

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