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UAE Exchange redefines its activities in Africa under the name of Unimoni
UAE Exchange, world leader in money transfer, exchange and payment solutions, announced the change of name of its activities in Africa under the name "Unimoni". Promoth Manghat, executive director of Finablr and CEO of the group, at an event held in Nairobi, Kenya, attended by dignitaries, partners and other guests
Abbreviation for "Universal Money", the new brand "Unimoni" its aspirations to strengthen its global presence and to offer a wider range of innovative financial services to its customers. As a result of this announcement, Unimoni will be launched across Botswana, Kenya, Rwanda, Seychelles, Tanzania, Uganda and Zambia, subject to regulatory approvals. As part of its growth strategy in Africa, Unimoni plans to be present in 14 African markets by 2020 and has developed a portfolio of healthy digital payment solutions designed to meet the specific needs of customers African.
Promoth Manghat, executive director of Finablr, said: "Home to some of the world's most dynamic economies, Africa has tremendous potential and is a critical part of our growth strategy as a
We will continue to invest in expanding our scope and depth of operations on the African continent.As a group, we have allocated $ 100 million in investments to support our growth and development efforts. Expansion in Africa in the Next Decade
As Unimoni, we will facilitate harmonious and connected experiences for our customers and pave the way for sustainable development. "
Through its leading brands such as Unimoni, UAE Exchange, Travelex and Xpress Money, the Finablr network expands in 45 African markets with 29 agencies in Africa offering money transfer and Angel at an affordable price, Unimoni plans to significantly increase its commercial footprint over the next few years. In addition, the brand is aggressively investing in customer-centric technological innovations and collaborating with ecosystem partners to provide an enhanced service proposition to its customers.
Speaking of future plans to expand his operations in Africa, Allen Semboze Unimoni, Africa Regional Director, said: "The next few years will be very eventful for Unimoni as we pursue our ambitious growth strategy.
"We are in advanced discussion 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.
"We are also working to develop our digital capabilities, including an online transfer platform, a white label solution for our online forex solution clients.While we are taking a phased approach to our growth in Africa, all of these offerings will be in place by 2020 on all our African markets. "
The rebranding exercise follows an earlier announcement made by a prominent businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty, founder and chairman of the UAE exchange group
In April 2018, Dr. Shetty launched "Finablr", a holding company which, subject to regulatory approvals, seeks to bademble its global service brand portfolio, including Unimoni, UAE Exchange, Travelex and Xpress Money under one roof
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