Company Research Report: Onafriq
Company Overview
Name: Onafriq
Mission: At Onafriq, the only currency that matters is access. We believe making a payment should be as simple as a phone call. This access can open up markets and connect people to a world of opportunities.
Founded By: No information is available.
Key People:
- Dare Okoudjou - Founder & CEO
- Adegbola Abudu
- Carolyne Mwaura
- Zamandlovu Ndlovu
- Jane Robinson
- Oladapo Richards
- Richard Hadley
- Sharon Welang
- Fulgence Stolk
- Funmi Dele-Giwa
- Amber Thetford
- Luke Kyohere
- Omotayo Ogunlade
- Rashi Gupta
- Christian Bwakira
- Meghan Taylor
- Julian Adkins
- Patrick Gutmann
- Filip Nilsson
- Rachel Balsham
Headquarters: 3rd Floor, The Place, 1 Sandton Dr, Sandhurst, Sandton, 2196
Number of Employees: No information is available.
Revenue: No information is available.
What is the Company Known For: Onafriq is known for being a pan-African payments company that enables interoperable cross-border and domestic digital payments, creating access to a borderless financial world for Africans and African businesses.
Products
Connected Mobile Wallets:
- Access to over 500 million connected mobile wallets across Africa.
Cross-Border Payment Corridors:
- 1300 cross-border payment corridors.
Services Offered:
1. Collections:
- Customers can pay using cards, cash, or mobile wallets.
- Real-time confirmation on transaction status with expansive footprint across multiple MNOs.
2. Disbursements:
- Fast and secure disbursements with real-time transaction capabilities.
- Bulk payout options to mobile money wallets and bank accounts.
3. Card Issuance:
- Supports physical/virtual prepaid card offerings and scales into new markets.
- Cards are globally accepted with multiple currency options.
4. Agent Banking:
- Extensive services through the Nigerian agent network, Baxi, facilitating payments and bill services.
5. Treasury Services:
- Access to multiple currencies and competitive FX rates to aid business growth.
6. SME Products:
- The Onafriq app, previously Beyonic, allows businesses to manage cash flow and payments.
Recent Developments
Recent Developments:
- No specific recent developments have been mentioned in the data provided.
New Products Launched:
- No new products have been specifically mentioned.
New Features Added to Existing Products:
- Introduction of the plug-and-play payment portals for Collections and Disbursements.
New Partnerships:
- Onafriq emphasizes collaborations with financial institutions, MNOs, MTOs, NGOs, and banks to widen their market reach, but no specific new partnerships have been indicated.
Compliance and Licenses
Compliance Strategy:
- Onafriq adheres to global and local compliance standards and takes a proactive approach to identifying inefficiencies in compliance processes.
Licenses Held:
- Licensed in Mauritius, Ghana, Nigeria, Democratic Republic of the Congo, Tanzania, and the United Kingdom.
Offices and Global Presence
Global Offices:
- London, UK
- Kampala, Uganda
- Abidjan, Cote D'Ivoire
- Accra, Ghana
- Lagos, Nigeria
- Douala, Cameroon
- Shanghai, China
- Kinshasa, DRC
- Nairobi, Kenya
- Dar es Salaam, Tanzania
- Johannesburg, South Africa
- Port-Louis, Mauritius
- United States, Tulsa Oklahoma, USA
Market Coverage:
- Present in 40 African markets connected through a network of networks enabling vast cross-border activities across 1300 payment corridors.
This detailed report summarizes the broad capabilities and strategic market positioning of Onafriq as a network-driven payment facilitator in Africa. The company’s extensive service portfolio and cross-border capability make it a key participant in the evolving African digital payments landscape.
