Onafriq

Onafriq, formerly known as MFS Africa, is a leading pan-African fintech company that provides interoperable digital payment solutions across the continent. Established in 2009 and headquartered in Sandton, South Africa, Onafriq has evolved into Africa's largest digital payments network, connecting over 500 million mobile money wallets, 200 million bank accounts, and 300,000 agents in Nigeria alone.​

The company's rebranding to Onafriq in November 2023 reflects its expanded vision beyond mobile financial services. The new name combines "Ona," the Yoruba word for "pathways," and "Afriq," derived from the French word for Africa, symbolizing the company's mission to create digital pathways that connect Africans to global financial systems.​

Onafriq offers a comprehensive suite of services, including domestic and cross-border disbursements and collections, card issuing and processing, agency banking, and treasury services. Its platform serves a diverse clientele, encompassing mobile network operators, money transfer operators, banks, fintechs, global development organizations, and merchants .​

The company's strategic acquisitions have bolstered its capabilities and market reach. Notably, Onafriq acquired Global Technology Partners (GTP), a U.S.-based prepaid card processor, to enhance its card issuing services across Africa. Additionally, the acquisition of Beyonic, a Ugandan digital payments provider, expanded Onafriq's presence in East Africa.​

Onafriq operates under a robust regulatory framework, holding 16 payment licenses across countries such as Mauritius, Ghana, Nigeria, Tanzania, Rwanda, Uganda, the Democratic Republic of Congo, and the United Kingdom. This extensive licensing ensures compliance with global and local standards, reinforcing the company's commitment to secure and efficient financial services.​

Keywords: Onafriq, MFS Africa, pan-African fintech, digital payments, mobile money, cross-border transactions, card issuing, agency banking, treasury services, financial inclusion, Africa, Global Technology Partners, Beyonic, regulatory compliance, payment licenses, Sandton, South Africa.