United Arab Emirate (UAE) Exchange has announced the rebranding of its Africa operations and also adopted a new name Unimoni, short for universal money.
Executive Director and Chief Executive Officer, Finablr, Promoth Mangath, said the new name, reflects the company’s aspiration to strengthen its global presence and provide a broader spectrum of innovative financial services to its customers.
Mangath stated that Unimoni will be present in 14 African countries by the year 2020, adding that the company plans to develop a healthy pipeline of digital payment solutions designed to cater for the specific needs of African countries.
“We have earmarked $100 million in investments to support our growth and expansion efforts in Africa over the next decade. As Unimoni, we will facilitate seamless and connected experiences for our customers and pave the way towards sustainable development and inclusive growth of the various African markets.” He said.
On future expansion plans for its Africa operations, Regional Head AfricaUnimoni,
Allen Semboze, said: “The next few years are going to be very eventful for us at Unimoni, as we set out to achieve our ambitious growth strategy. We are in advanced discussions with various ecosystem partners including Mobile Network Operators and aggregators to develop new money transfer solutions.
“These services will be available in four of our seven markets in Africa by the second half of 2018.”
Semboze said they are developing digital capabilities that includes an online remittance platform, a white-label solution for corporate customers and online forex solution.
Unimoni, formerly UAE Exchange in Africa is a global provider of money transfer, foreign exchange, and payment solutions. The brand facilitates the seamless movement of money across geographies, currencies, and channels with a focus on delivering convenience, speed, and value to its customers.
Finablr is a holding company which brings together category-leading global financial services brands under one network. With technology innovation at its core, Finablr seeks to drive the agenda of financial enablement and empowerment through R&D efforts, industry ecosystem engagements, investments, and potential acquisition.