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- Ripple is enabling cross-border partnerships between Africa and the United Kingdom, Australia, and the Gulf Cooperation Council (GCC).
- This expansion has been possible through a partnership with Onafriq which has penetrated more than 40 African markets.
Ripple earlier this week celebrated a major partnership that will see it expand its reach as a cross-border payments network. Onafriq has partnered with Ripple to facilitate cross-border payment between Africa and countries all over the world. The partnership was confirmed at the just concluded Ripple Swell 2023 conference held in Dubai.
According to the official announcement, Onafriq will utilize Ripple’s crypto-enabled payments technology to establish payment corridors between 27 African countries and the United Kingdom, Australia, and the Gulf Cooperation Council (GCC). The GCC is a body that represents the United Arab Emirates (UAE), Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
Notably, Onafriq has the largest mobile money movement footprint. Mobile money has been a key driver for financial inclusion in Africa. The platform serves over 500 million mobile wallets across 40 African countries and operates across more than 1300 payment corridors on the continent.
By utilizing Ripple technology, customers will enjoy speedy and cost-effective remittance and business payments across countries. It further introduces and accelerates financial inclusion in Africa. Aaron Sears, SVP, Global Customer Success at Ripple shared his views about the partnership stating;
Connecting our partners PayAngel, Pyppl and Zazi Transfer with Onafriq over Ripple Payments will bring the benefits of faster and more cost-effective cross-border payments to individuals seeking to send money into Africa from around the globe.
Dare Okoudjou, Founder & CEO at Onafriq, spoke about its mission and the partnership with Ripple:
Our mission is to make borders matter less when it comes to payment within, to, and from Africa. We are advancing this mission through our partnership with Ripple, which is already enabling new types of connections with fintechs such as PayAngel, Pyppl, and Zazi Transfer. These connections are set to enable fast, secure, and low-cost remittances at scale between Africa and the rest of the world, and represent a bold first step for our crypto strategy to leverage blockchain technologies to amplify our impact on people and businesses on the continent.
