Africa’s leading Fintech Company, MFS Africa, has rebranded itself to showcase its growth and ambition in the digital payments space across the continent
The company chose to rename itself after expanding quickly and buying several companies, including GTP, which gave it a larger share of the US market
“It was getting harder for us to use the MFS trademark outside of Africa because it really belonged to another company in the US,” said Onafriq’s creator and CEO, Dare Okoudjou, stated. “With this new name, we can bring everyone together under one brand and identity.”
The new name Onafriq reflects MFS Africa’s mission to be the leading player in Africa Fintech, as well as honouring some significant words such as ‘Ona’ the Yoruba term for routes and ‘Afrique’ the French word for Africa. The notion of One Africa, a continent that is connected and borderless, where access opens up more possibilities, is also inspired by Onafriq.
In the present time, the difficulty of cross-border transactions frequently stops money from moving easily and impeded global trade. Onafriq aspires to eliminate these hurdles and support empowerment and economic growth.
Through Onafriq over 500 million mobile money wallets, 200 million bank accounts and 300,000 agents in Nigeria are connected by a network that extends to 40 African markets. This provides various services such as domestic and international remittances and collections, card generation and processing, agency banking and treasury services.
Onafriq is opening up a new era a new access for people across Africa and beyond by joining global and regional businesses, mobile networks operators, money transfer operators, banks, Fintechs, global development organizations and online and offline merchants.
Its world-class regulatory and compliance capabilities, along with its strong regional presence in ten African offices and those in the UK, US, and China, make this possible.