Onafriq, Africa’s largest digital payments network, is celebrating its 15-year anniversary by announcing a significant milestone: close to 1 billion mobile money wallets and 500 million bank accounts are now connected through its infrastructure.
Starting as a mobile money switch, Onafriq 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.
“We remain fully committed to connecting every individual and business in Africa with each other and the world,” said Dare Okoudjou, founder and CEO of Onafriq. “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.”
From Mobile Wallet Interoperability to Omnichannel Infrastructure
Over the past 15 years, Onafriq has progressed from simply connecting mobile wallet schemes to a comprehensive interoperability layer for African finance, supporting various use cases from peer-to-peer transfers and merchant collections to card issuance, agency banking, and remittances.
Today, Onafriq’s network connects:
- 961 million registered mobile wallets
- 464 million registered bank accounts
- 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.
Looking Ahead
As Onafriq embarks on its next chapter, the company aims to develop a network with greater local relevance while maintaining the scale of its pan-African infrastructure.
“We are increasingly focused on creating infrastructure with local depth,” said Okoudjou. “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.”
“With our relentless focus on building the foremost pan-African cross-border payment network, we continue to invest in creating infrastructure with local depth,” said Okoudjou. “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 to foster an ecosystem where usage is active, sustained, and impactful.”
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.
With extensive experience, wide reach, and a proven execution track record, Onafriq remains dedicated to building a payment infrastructure that unlocks prosperity – both across borders and within local communities.
