UAE Exchange Renames Operations in Africa as Unimoni

UAE Exchange, one of the leading international money transfer, exchange and payment solutions brands, announced the name change of its activities in Africa under the name of Unimoni . The announcement was made by 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 Unimoni brand "reflects the company's aspirations to strengthen its global presence and 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 the approval of the regulatory authorities

year 2020, and has developed a sound pipeline of digital payment solutions designed to meet the specific needs of African customers.

Promoth Manghat, Executive Director of Finablr, said: "Home to some of the fastest growing economies in the world, Africa has tremendous potential and is an essential part of our growth strategy as a group. As a group, we have invested $ 100 million to support our growth and expansion efforts in Africa over the next decade.

Through its leading brands such as Unimoni, UAE Exchange, Travelex and Xpress Money, the Finablr network expands to 45 African countries. the steps. With 29 agencies in Africa offering money transfer and currency exchange services at an affordable price, Unimoni plans to significantly increase its commercial footprint over the next few years. In addition, the brand is also aggressively investing in customer-driven technological innovations and collaborating with ecosystem partners to provide a better service offering to its customers. Speaking of future plans to expand his operations in Africa, Allen Semboze, Africa Regional Director, Unimoni, said: "The next few years will be very eventful for Unimoni, as we strive to achieve our ambitious growth. are in advanced discussion with various ecosystem partners, including mobile network operators and aggregators, to develop new money transfer solutions that will be available in four of our seven markets in Africa in the second. semester 2018. We are also working on our digital capabilities including an online payment platform, a white label solution for our corporate customers and an online forex solution. While we are taking a phased approach to our growth in Africa, all these offerings will be in service by 2020 on all our African markets "

The rebranding exercise follows up on a e announcement made previously by the famous UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty, Founder and Chairman of UAE Exchange Group. In April 2018, Dr. Shetty launched "Finablr", a holding company that, subject to regulatory approvals, aims to consolidate its global portfolio of leading financial services brands under one roof, including Unimoni, UAE Exchange, Travelex and Xpress Money.

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