Onafriq

Onafriq connects businesses to new markets through a global omnichannel payments network. We unlock access, scaling up your business beyond borders. Because where there’s access, there’s growth. #AccessGrowth #Onafriq onafriq.com For more information, see our press release: https://lnkd.in/dU2cebEe

Mobile money has transformed financial inclusion across African economies, with 1.75 billion registered accounts in 2023, yet global adoption still needs to be improved. Integrating mobile wallets with card networks is key. Onafriq's acquisition of GTP underscores this shift, enabling seamless transitions between mobile wallets and card payments. Christian Bwakira, Group Chief Commercial Officer at Onafriq, discusses the pivotal role of interoperable payments in connecting Africa to global commerce. Read more here: https://loom.ly/eER3dcs #Interoperability #MobileMoney

Money20/20 Europe may have just wrapped up, but the AI conversation is still going strong! This year's theme, 'Human X Machine', highlighted innovative stories from industry pioneers. According to McKinsey, the potential impact of GenAI on the global banking sector is staggering - an estimated $200-340 billion in annual value, primarily driven by productivity gains of 2.8-4.7%. At Money20/20, we saw how this potential could become a reality. Here are some of our key takeaways: 1. Major banks are already implementing GenAI initiatives, resulting in significant boosts to employee productivity. 2. Successful implementation doesn't happen overnight. It requires meticulous preparation, which includes comprehensive data collection, centralisation, standardisation, and cleansing across multiple sources. 3. Robust infrastructure is crucial to unlocking GenAI's full potential. We're seeing banks invest in AI Factories, which enhance processing capabilities, ensure stringent data security, and optimise data centre economics. 4. Resilient, cloud-native infrastructure allows banks to scale AI-driven customer personalisation while maintaining top-notch security and compliance. #Money2020 #AI

Remittances continue to be critical for many families in Africa. Did you know that remittances from North African migrants have increased by over 100% in the last decade? In 2022, they reached $48 billion, with Egypt being the largest recipient of remittances in the sub-region, accounting for a significant portion of foreign financial sources. Read more here: https://loom.ly/vaZ9pI0 #Remittances #NorthAfrica

Wishing a joyous Eid al-Adha to our colleagues, partners, and friends! May this special day be filled with love, compassion, and unity. At Onafriq, we embrace the values of empathy, kindness, and selflessness. Here's to making a meaningful difference in the lives of those around us! Eid al Adha Mubarak

Today, we honour the incredible contributions of migrants who send money back home to support their families, build communities and drive global development. Despite the importance of remittances to our continent, sending money to and within Africa remains expensive. At Onafriq, we believe the solution is a network of networks to empower businesses and consumers across Africa. Our omni-channel solution offers choice and convenience, bridging the access gap and simplifying last-mile payments. That's why our partnership with International Fund for Agricultural Development (IFAD) Financial Facility for Remittances aims to reduce transaction costs and expand the reach of remittances for the African diaspora in Europe and on the continent. And we've made great strides! Through our work with AfriMoney in The Gambia, mobile money accounts grew from 25,398 to 108,454. We are also piloting innovative products like insurance linked to remittances in Rwanda. From all of us at Onafriq, Happy International Day of Family Remittances to all migrants. We see you and thank you. #IDFR2024

Please join our Chief Network Officer, Nika Naghavi, at the panel discussion hosted by the MIGA of The World Bank ahead of the International Day of Family Remittances. The panellists will discuss how MDBs can help reduce costs in remittances and facilitate cross-border payments. This event promises invaluable insights and highlights collaborative efforts toward a more inclusive financial system. Thursday, June 13, 2024 Time: 10-11 a.m. EST Watch online here: https://loom.ly/X5ke9uc

In this Tech Talks Daily episode, join our General Counsel and Chief Risk Officer, Funmi Dele-Giwa, as she discusses how technology and financial innovation can drive Africa towards a more resilient and prosperous future. Despite minimal global emissions, Africa is heavily impacted by climate change. Funmi sheds light on how fintech can help address climate challenges and boost the continent's economy. Join the conversation on how technology can bridge Africa's financial and environmental challenges. Listen in: https://loom.ly/U6lGuZc #Onafriq

Onafriq has partnered with VGS to strengthen fintech services in Africa & the Middle East! Through this partnership, we introduce exciting critical features like the 'Credential Show', specifically designed for virtual cards and other card issuance features. We are laying the groundwork for a future where financial services are more secure, accessible, and innovative. As our COO of Card Issuing, Rajat Mishra, PMP®, explains, "By leveraging VGS's best-in-class technology and combining it with Onafriq's unique expertise around payment interoperability, we are confident that we can drive meaningful impact and shape the future of fintech across Africa and the Middle East." Learn more about our partnership with VGS. #AccessGrowth #Fintech

The Onafriq team is attending the Visa Payment Forum CEMEA 2024 in Istanbul. The event is an excellent opportunity to gain insights into the future of payments, security, risk management, and identity management. The forum, which focuses on the impact of Gen AI and Embedded Finance, brings together industry leaders, experts, and innovators to discuss how these technologies shape the payments landscape. As a global omnichannel payment network of networks, we are excited to connect with partners, knowledge experts, and clients from around the world. These connections will fuel our mission to provide access and empower individuals and businesses across Africa. The future is exciting for sub-Saharan Africa, with emerging technologies and innovative solutions poised to transform the financial services industry. We thank Visa for organising such an insightful event and look forward to collaborating to shape the future of payments. #VPFCEMEA2024 Julian Nariansamy Christian Bwakira Meagan Rabe Koushik Iyer Dylan Virasamy Ismahill Diaby Javeria Minhas Chad S. Pollock Lineshree Moodley Andrew Uaboi Enoch Malisa (MBA - UK)