Africa: United Arab Emirates exchanges its operations with Unimoni

By Baraka Jefwa

UAE Exchange, one of the leading international brands of money transfer, currency and payment solutions, announced the name change of its activities in Africa under the name "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 brand Unimoni "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 regulatory approvals As part of its growth strategy in Africa, Unimoni plans to 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 African customers.

Promoth Manghat, CEO of Finablr has stated:

"Africa, home to some of the fastest growing economies in the world, has enormous potential and is an essential element of our growth as a group. As a group, we have allocated $ 100 million for investments to support our growth and expansion efforts in Africa over the next decade. As Unimoni, we will facilitate harmonious and connected experiences for our customers. pave the way for sustainable development and inclusive growth in different African markets. "

Through its leading brands such as Unimoni, UAE Exchange, Travelex and Xpr ess Money, the Finablr network expands to 45 African markets, with 29 agencies in Africa offering transfer services. affordable money and currency, Unimoni plans to significantly increase its commercial footprint over the next few years, and the brand is actively investing in customer-driven technological innovations and collaborating with partners in the field of technology. 39, ecosystem to provide an improved service proposition to its customers

Speaking of future plans to expand its operations in Africa, Allen Semboze, Unimoni, Regional Director Africa, said:

"The next years will be very eventful for Unimoni, as we pursue our ambitious growth strategy. We are in advanced discussions with various ecosystem partners, including the 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 capabilities digital, including an online transfer platform, a white label solution for our corporate customers and an online Forex solution. While we take a phased approach to our growth in Africa, all of these "

l '. Exercise follows an announcement made earlier by the famous UAE – based 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 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.