Damiete Braide
Leading African payment gateway company, Innovate 1 Pay, has extended its operations and provision of financial technology services to African expatriates in Dubai, Middle East.
Chairman of Innovate 1 Pay, Mahmood Ahmadu, disclosed the move will enhance ease of doing business between the UAE and Nigeria and ultimately drive business growth.
“With the maturing of financial markets in Africa, we have expanded our presence to a total of 56 countries currently, and with the promise that the new UAE visa regime holds for African professionals, we believe the prospects for growth in addressing this demographic is very promising.”
He added that, “the next generation of financial services needs to reflect customer expectations around secure and quick transfer of funds. Our relationship with government bodies and comprehensive presence in the African market positions Innovate 1 Pay uniquely in being able to leverage these strengths, and amplify them with the use of appropriate and user-friendly technologies.”
Ahmadu believes Africa will surpass China and India as a job market by 2040, and with the recent visa reforms in the UAE, Dubai has emerged as an attractive destination for Africans to pursue career advancement and professional fulfilment. Innovate 1 Pay is leading this drive with the provision of international money transfer and payment services. Also, Chief Executive Officer of Innovate 1 Pay, Anthony Nwachukwu, said “the time for a concerted effort to extend financial inclusion in Africa is right now. Africa is currently the second fastest growing continent, after Asia, and we are looking at an average GDP growth of 5 per cent across the continent that has lasted a decade now.”
Speaking on the potential of Africa’s population, the CEO said Innovative 1 Pay is working towards the larger social goal of boosting financial inclusion on the continent.
“Africa is home to 40 per cent of the people in the world who lack access to banking services and we at Innovate 1 Pay see our business mission within the context of this larger social goal. Bringing financial inclusion to all is possibly one of the most important steps in empowering untapped human potential, more equitable wealth distribution and a universally prosperous world.” The UAE and African countries’ ties are on solid track. Due to the relationship, Dubai Chamber of Commerce and Industry (Dubai Chamber) has announced its plans to host the fifth edition of the Global Business Forum (GBF) on Africa from November 18-19 in Dubai.
Organised under the theme, “Scale Up Africa”, GBF Africa 2019 will bring together African and UAE governments and business leaders to explore avenues of economic cooperation and to facilitate bilateral trade and investment flows.