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African firm brings inclusive banking to Dubai

Innovate 1 Pay to service Africans’ remittance needs

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Leading African payment gateway Innovate 1 Pay has announced that it is launching its Dubai office, bringing easy and seamless money transfer and payment services to African expatriates in the region.

A market leader on the African continent, Innovate 1 Pay is licensed by the Central Bank of Nigeria to provide services including international money transfers and wholesale foreign exchange management, as well as being the exclusive distributor of foreign currency to Bureau de Change (BDC) operators in Northern Nigeria.

Business between the UAE and Africa is increasing. The Dubai Chamber of Commerce and Industry (Dubai Chamber) will host the fifth edition of the Global Business Forum (GBF) on Africa on November 18-19, 2019, in Dubai.

Organized under the theme 'Scale Up Africa', GBF Africa 2019 will bring together African and UAE governments and business leaders to explore avenues of economic cooperation and to facilitate bilateral trade and investment flows.

Africa is set to surpass China and India as a job market by 2040, and with the recent visa reforms in the UAE, Dubai has emerged as an attractive destination for Africans to pursue career advancement and professional fulfillment. Innovate 1 Pay’s secure and convenient payment gateway and financial services platform, which integrates seamlessly between Dubai and several African nations, looks set to emerge as the solution to address this expanding market segment and its unmet needs.

With the maturing of financial markets in Africa, Innovate 1 Pay has expanded its presence to 56 countries.

The company was lauded for its efforts to empower financial inclusion at the Central Bank Payment Conference in Berlin, which included representatives from the European Commission, the Federal Reserve, Deutsche Bundesbank, Visa, and the Assistant Governor of Australia’s Reserve Bank, among others. At a forum featuring nearly 200 thought leaders representing more than 100 financial organizations and more than 50 central banks, Innovate 1 Pay created huge interest.

Africa is currently the second fastest growing continent, after Asia, with average GDP growth of 5 percent across the continent for the past decade. It is home to 40 percent of the people in the world who lack access to banking services.

Headquartered in Garki Abuja FCT (Nigeria), and with a global operations office at Jumeirah Lakes Towers, Dubai, Innovate 1 Pay is Nigeria’s largest provider of payment services, having processed more than a million transactions for clients within Nigeria as well as globally.

 

 

Source

Dubai FDI