Onafriq Secures $200M Investment from MFS Africa to Revolutionize African Payments Infrastructure

Onafriq, the pioneering payments company building the African payments infrastructure for the next 100 years, is thrilled to announce an impressive funding milestone with a $200,000,000 raise—a game-changing moment that underscores the company’s robust vision and achievements. With an expansive network that connects over 500 million mobile money wallets, 200 million bank accounts, and 400,000 agents in Nigeria alone, Onafriq has established itself as a critical player in the African finance landscape. The fresh influx of capital will be strategically deployed to accelerate the expansion of its omnichannel global payment network, further enhancing domestic and cross-border disbursements, collections, card issuing and processing, agency banking, and treasury services. This funding comes at a pivotal time as Onafriq looks to deepen its integrations with mobile money operators, money transfer operators, banks, fintech companies, development organizations, and both online and offline merchants, thereby reinforcing its “network of networks” approach and widening the scope of financial opportunities throughout the continent. Recognized as Fintech of the Year at the African Banker Awards in 2023, the company is poised to transform lives, communities, and entire economies by unlocking seamless connectivity and growth across Africa and beyond. The new funds will also be invested in cutting-edge infrastructure and regulatory compliance initiatives, ensuring that Onafriq continues to lead in innovation while maintaining top-notch security and efficiency. As Onafriq drives Africa’s digital transformation with offices across Africa, the UK, US, and China, this funding round marks a significant step towards building a more interconnected, inclusive, and prosperous future for all. For more information, please visit www.onafriq.com or email us at info@onafriq.com.