UAE Exchange Renames Its Activities in Africa as Unimoni

NAIROBI, Kenya, July 22, 2018 / – UAE Exchange, a leading global provider of money, currency and payment transfer solutions, has announced that it is renaming its operations in Africa under the name of "[] Unimoni "(www.Unimoni.com). The announcement was made by Promoth Manghat, Executive Director of Finablr (www.Finablr.com) and CEO of the group, at an event in Nairobi, Kenya, attended by dignitaries, partners and partners. other guests.

The new trademark " Unimoni ", which stands for " Universal Money ", reflects the company's desire to strengthen its presence in the world and to provide a wider range of innovative financial services to its clients. Following this announcement, Unimoni will be launched in 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 strong portfolio of digital payment solutions to meet the specific needs of African customers.

Promoth Manghat , Executive Director of Finablr said: "Africa is the continent with some of the fastest growing economies in the world. It has tremendous potential and is an essential part of our growth strategy as a group. We will continue to invest to increase our influence and intensify our activities on the African continent. Our group has earmarked $ 100 million for investments to support our growth and development efforts in Africa over the next decade. With Unimoni, we will offer seamless connected experiences to our customers and lay the groundwork for sustainable development and inclusive growth in the various African markets.

Through its leading brands such as Unimoni, UAE Exchange, Travelex and Xpress Money, the Finablr network spans 45 African markets. With 29 branches in Africa offering affordable money and currency transfer services, Unimoni plans to significantly increase its presence in the retail sector in the coming years. In addition, the brand is also investing heavily in customer-oriented technology innovations and collaborating with ecosystem partners to provide an enhanced service proposition to its customers.

When presenting future expansion plans for its business operations Africa, Allen Semboze, Africa Regional Director of Unimoni said: "The next few years will be very eventful for Unimoni because we have set ourselves an ambitious growth strategy. We are in advanced discussions with various ecosystem partners, including aggregators and mobile network operators, to develop new money transfer solutions. These services will be available in four of our seven African markets in the second half of 2018. We are also working on developing our digital capabilities, including an online transfer platform, a white label solution for our business customers, and an online Forex solution. While adopting a phased approach to our development in Africa, all these offers will be online by 2020 in all of our African markets.

The brand change follows an earlier announcement by Dr. Bavaguthu Raghuram Shetty, a UAE-based businessman and philanthropist who is the founder and chairman of the UAE Exchange Group. In April 2018, Dr. Shetty issued " Finablr ", a holding company which, subject to obtaining regulatory approvals, seeks to consolidate its global range of financial services brands under one entity prominent, including Unimoni, UAE Exchange, Travelex and Xpress Money

Distributed by APO Group for Unimoni

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About Finablr

Finablr is a holding company that brings together leading global financial services brands within the same network. With technological innovation at the forefront, Finablr strives to foster financial empowerment and empowerment through R & D efforts, potential acquisitions, investments and agreements with the sector's ecosystems. With more than 40 years of experience in this industry and more than 18,000 employees, Finablr brands are directly present in 45 countries and the network extends to 165 countries. Collectively, the Finablr network reaches more than one billion people through its retail agencies, agents and digital channels. For more information, visit Finablr's Web site: www.Finablr.com

About Unimoni

Unimoni (formerly UAE Exchange in Africa) is a global supplier money transfer, exchange and payment solutions. The brand facilitates the smooth flow of capital between countries, currencies and canals by focusing on providing maximum convenience, speed and value to its customers. With numerous points of contact in retail stores, digital channels and self-service kiosks, Unimoni offers secure and simplified financial solutions to its customers. For more information, visit the Unimoni website: www.Unimoni.com

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Unimoni