Onafriq’s 15-year journey in business is the focus in this edition of Business Day Spotlight.
Host Mudiwa Gavaza is joined by Dare Okoudjou, CEO of Onafriq.
Okoudjou outlines the history and growth of Onafriq.
Onafriq, now celebrating 15 years, is a financial technology company that specialises in connecting different mobile payment platforms.
Mobile money has become a mainstay in parts of Africa, but real financial inclusion continues to be hampered by a lack of access to certain mainstream services.
While many of the world’s largest digital merchants have started accepting mobile money payments, most international merchants still do not.
This has meant that using mobile money in the global commercial space is cumbersome, resulting in a gap between financial inclusion on the African continent and access to the global financial system.
This is the opportunity that Okoudjou saw and has sought to exploit.
Onafriq now connects nearly 1-billion mobile money wallets and 500-million bank accounts across the continent.
The discussion with Okoudjou highlights: Onafriq’s journey; the company’s efforts to increase mobile money penetration in Africa; challenges faced by Africans using mobile money to transact online; and opportunities for remittances.
‘Business Day Spotlight’ is an Arena Podcasts production.
