Almost one billion mobile money wallets and 500 million bank accounts have now been connected by Onafriq across Africa through its infrastructure in its 15 years of operations.
The digital payments network, which started as a mobile money switch, has transformed into a full omnichannel payments network.
It facilitates cross-border disbursements, collections, card issuance and processing, offline agent banking services, and FX & treasury services.
At its core, Onafriq is providing digital interoperability across mobile wallets, bank accounts, cards, and offline payment channels, bringing Africa closer to a seamless and integrated financial future.
Business Post reports that at the moment, Onafriq’s network precisely connects 961 million registered mobile wallets, 464 million registered bank accounts, and more than 2,000 cross-border payment corridors.
This robust infrastructure has facilitated access and usage across the continent, enabling everyone from rural beneficiaries of social payments to global fintechs operating in Africa.
“We remain fully committed to connecting every individual and business in Africa with each other and the world.
“Fifteen years ago, we set out with a bold ambition: to connect Africa’s mobile money systems and make borders matter less.
“What we’ve built since then is more than a network – it’s a pan-African infrastructure layer that has evolved in lockstep with the continent’s digital evolution.
“From mobile money to bank accounts, from remittances to real-time trade – we’ve grown as Africa has grown. I’m incredibly proud of what we’ve achieved and even more excited about the road ahead,” the chief executive of Onafriq, Mr Dare Okoudjou, said.
“We are increasingly focused on creating infrastructure with local depth. A prime example is Nigeria, where we are developing a unique payments stack that combines the strength of our cross-border network with the regulatory and foreign exchange realities of one of Africa’s most dynamic economies.
“By building infrastructure that reflects local context, we can enable more relevant use cases – moving beyond large numbers of registered mobile money wallets to foster an ecosystem where usage is active, sustained, and impactful,” he added.
Onafriq is also exploring blockchain infrastructure and stablecoin integrations to facilitate near-instant, programmable payments – a crucial step towards real-time, interoperable trade across African currencies.
These innovations align with the objectives of the African Continental Free Trade Area (AfCFTA) and are designed to help Africa bypass outdated payment systems in favour of a modern, mobile-first financial ecosystem.