Renaming: UAE exchange becomes UNIMONI

UNIMONI will be the new business name of UAE Exchange in Africa. The new mark " UNIMONI ", which is an abbreviation for " Universal Money " (universal currency), 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. "Our group has allocated $ 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 of the various African markets ", according to Promoth Manghat, Executive Director of Finablr. [19659002] Indeed, the change of mark follows an earlier announcement by Dr. Bavaguthu Raghuram Shetty, a United Arab Emirates-based businessman and philanthropist, 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 leading brands such as Unimoni, UAE Exchange, Travelex and Xpress Money

With its leading brands such as UNIMONI, UAE Exchange, Travelex and Xpress Money, the Finablr network spans 45 African markets.