Onafriq, formerly known as MFS Africa, is at the forefront of creating a unified payments ecosystem across the continent. Based in Johannesburg, the company has built a vast network that connects over 500 million mobile wallets across more than 40 African countries. Its core mission is to bridge the gaps between a diverse range of financial networks, including mobile money platforms, traditional banks, and other financial services, to facilitate seamless and affordable cross-border payments.
The company’s Treasury Services are a key part of its offering, designed to simplify business financial operations by allowing for the handling and settlement of payments in different currencies with competitive exchange rates. This is particularly impactful for companies operating across multiple African markets, as it reduces the complexity and cost of financial management. Onafriq’s partnerships are also a central element of its strategy. Collaborations with major players like VGS and M-Pesa/Safaricom help support fintech innovation and enhance the efficiency of remittances, which are a vital source of income for millions of African households. By creating a single, interoperable network, Onafriq is helping to break down the financial barriers that have long hindered intra-African trade and economic integration. Its work is a critical piece of the puzzle for the African Continental Free Trade Area (AfCFTA), providing the digital infrastructure necessary to support a single, unified market.
