The Nairaex brand gave tech experts, Developer teams, Founders, blockchain entrepreneurs, policy experts and tech businesses an educative and indelible impression at a recent Blockchain Summit held in Lagos, showcasing emerging technologies like cryptocurrencies, NFTs and other innovations in the industry.

According to Nairaex, sponsoring the event is a part of its commitment to supporting blockchain development and driving education in Nigeria to stimulate technological growth.

Speaking at a panel session on Web3 and regulations, Yomi Bilewomo, Nairaex Growth Manager, said that, “There is room for the cryptocurrency industry to contribute to the rules and regulations governing them. Tech enthusiasts must explore a way for the government to have both the centralized and decentralized systems obtainable in Nigeria.”

He added, “We believe that with proper regulations and support, the Cryptocurrency market can be an economic game changer for the country.”

During the Summit, the hackathon also sponsored by Nairaex, saw judges from the tech and blockchain industry; Shard Labs Blockchain Engineer, Mayowa Tudonu; TalentQL and AltSchool Africa Co-founder, Sultan Akintunde; Africhange Chief Operating Officer, Ekene Egonu, and BetDemand Chief Executive Officer, Akinyemi Akindele and Crevatal Co-founder, Clement Hugbo award three Web3 teams for originality, design, relevance and innovation with a $2500 cash prize.

Chemotronix Team emerged winner by receiving $1,250 (approximately N752,000) for building a prototype Internet of Things (IoT) device as part of its solution to reduce carbon emissions and other climate-related problems in Africa using the blockchain.

Team Block Baddies won $750 (about N450,000) for creating a digital blockchain library that could be useful to African writers, while Team JPS earned $500 (Over N300,000) for its NFT market for digital fashion assets.

While conversing with pressmen at the Summit, Yomi Bilewomo stated that funding the hackathon was an attempt to encourage more innovative blockchain-based solutions and urge more industry players to build blockchain communities in Nigeria.

Nairaex also gave 20 Nigerian tech enthusiasts free tickets to attend the Summit through an engaging media campaign.

Since inception, the company has been at the forefront of driving blockchain innovation, education and regulations while providing a safe and secure platform for its users to fund their accounts easily and quickly.

Nairaex, a product of Africhange Technologies, is a leading cryptocurrency exchange platform that enables on and off ramp bitcoin transactions.

The post Nairaex Calls for Improved Industry Policies, Empowers Web3 Teams with over N1 million appeared first on Tech | Business | Economy.

The cheapest option for your specific transfer depends on where you’re sending from, where the money is going, how much you’re moving, and how quickly it needs to arrive.

Understanding how these services make money helps you avoid overpaying. Some charge upfront fees with transparent exchange rates. Others advertise zero fees but mark up the exchange rate.

The total amount your recipient receives matters more than how the costs are structured.

This guide breaks down the services by category and explains what to look for when comparing options.

Digital-first remittance platforms

These companies operate primarily online and through mobile apps. They tend to have lower costs than traditional services because they don’t maintain physical locations.

Africhange

Africhange operates across key remittance corridors from Canada, the UK, and Australia into West and East Africa, with a focus on cost efficiency and speed.

Part of Africhange’s appeal lies in its regulatory footing. Its Nigerian subsidiary holds an International Money Transfer Operator licence from the Central Bank of Nigeria, which allows the company to process remittances directly rather than through third-party intermediaries.

This structure shortens settlement timelines and reduces avoidable costs once funds are received in Nigeria.

Africhange currently supports transfers from Canada to Nigeria, as well as to other markets including Ghana, Kenya, Benin, Togo, and Senegal. The platform also supports multiple currencies on both the sending and receiving sides, which makes it easier to manage cross-border payments without constant conversion headaches.

LemFi

LemFi has emerged as one of the fastest‑growing platforms for remittances to Africa. It combines low cost with a smooth app experience that works well for people sending money from North America, the UK, and Europe.

Users open an account, verify their identity, and then send money directly to bank accounts or mobile wallets in countries like Nigeria, Ghana, Kenya, Cameroon, Senegal, and others. Most corridors carry zero transfer fees, and many transfers arrive within minutes.

You can hold balances in US dollars, British pounds, Canadian dollars, and other major currencies, then convert and send at competitive exchange rates.

The platform is regulated in the UK and Canada and holds licences to operate remittances into key African markets. Funds typically reach a recipient’s bank or mobile wallet in minutes. A loyalty or rewards component may appear, providing additional value for frequent senders.

Remitly

Remitly is one of the long‑standing players in cross‑border money transfers. It operates through a simple app and web interface that walks you through sending money step by step. When you use Remitly you choose between two ways to send. One option keeps fees low but takes a little longer.

The other delivers faster if timing matters more than cost. You can fund transfers with a bank debit or credit card, and your recipient can get money straight into a bank account or popular mobile money wallets used in many African countries.

WorldRemit

WorldRemit is similar to Remitly but supports a wider range of payout methods in many countries across Africa. In addition to bank deposits and mobile money, WorldRemit sometimes offers cash pick‑up options at local partners if the recipient prefers that. The interface is straightforward. You enter the amount, pick where you are sending it, choose how the recipient will collect the cash, and the app shows fees and delivery times before you confirm.

WorldRemit tends to settle transfers within a few hours for most corridors, though it can vary by country and bank processing times.

Wise

Wise focuses on transparency and cost efficiency. Unlike many banks or money transfer services, it uses the real mid‑market exchange rate and charges a single, upfront fee. This means the recipient gets the exact amount shown before you confirm the transfer, without hidden markups.

Wise is particularly suitable if keeping costs low is your priority, and you can wait for the transfer to process. Delivery times vary depending on the destination bank, but most transfers arrive within a few hours to a couple of days. The platform supports multiple currencies and countries, making it convenient for repeat transfers with predictable pricing.

Traditional networks

These established services have extensive physical networks across Africa. They’re useful when recipients need cash pickup or live in areas without reliable banking infrastructure.

Western Union

Western Union has one of the largest agent networks in Africa, making it a reliable option for recipients who may not have access to a bank or mobile money account. The service supports cash pickup, bank transfers, and mobile money in many countries.

Cash pickup is fast, often available within minutes, but it is more expensive than other payout methods. Bank transfers and mobile money can be cheaper, though delivery times may vary depending on the destination and local partners. Fees are generally higher than digital-first platforms, and exchange rates include a markup.

You can send money through the Western Union website, mobile app, or at a physical agent location. Online bank transfers are typically less costly than cash pickup, making them the better option when speed is not the top priority.

MoneyGram

MoneyGram operates across Africa with a large agent network, covering many urban and semi‑urban areas. The service allows recipients to collect cash quickly, often within minutes or a few hours, though timing can vary depending on the location.

Transfers can be sent online, via the MoneyGram app, or at agent locations, including major retailers. In addition to cash pickup, the platform supports bank transfers and mobile money in many countries. Fees for cash pickup are sometimes slightly lower than Western Union, but the cost depends on the sending corridor and payment method.

MoneyGram provides a reliable alternative for recipients without bank accounts or mobile wallets, while also offering multiple ways to receive funds for those who prefer digital options.

Mobile Money and regional platforms

Mobile money has transformed how people send and receive money in Africa. In several countries, more adults now have mobile money accounts than traditional bank accounts. This widespread adoption has made it easier to move money quickly, securely, and without relying on banks.

Mobile Money overview

Mobile money lets people receive, store, and spend money using just a mobile phone, without needing a bank account.

Major providers include M‑Pesa in Kenya and Tanzania, MTN Mobile Money across several countries, Orange Money in West Africa, and Airtel Money in multiple markets.

Most international transfer services now support sending money directly to mobile money accounts. This method is often faster and cheaper than using bank transfers or cash pickup, making it a popular choice for both senders and recipients in some countries.

Wave

Wave is a mobile money platform that operates in Senegal, Côte d’Ivoire, Burkina Faso, Mali, and Benin. Transfers from the US to Wave accounts typically carry no transfer fees. The exchange rate is the main cost for the sender.

Recipients need a Wave account to receive funds, and creating one is straightforward. Wave functions as both a transfer service and a mobile money wallet, allowing users to send, receive, and spend money through the app.

Coverage is currently limited to the West African countries where Wave operates, but within those markets, the platform is fast, simple, and easy to use.

Sending money to Africa is more efficient now than it was years ago. Digital platforms are driving down costs and forcing greater clarity in pricing. Whether you prioritise cost, speed, or convenience, there are options that fit your needs. Check fees and exchange rates before you hit send, and choose the right tool for your corridor and frequency.

The post Best ways to send money to Africa in 2026  appeared first on Tech | Business | Economy.

The remittance market has changed dramatically over the past few years. Traditional banks and money transfer operators that once dominated the space now face stiff competition from mobile-first platforms offering better rates, faster transfers, and transparent pricing.

But with dozens of apps claiming to be the best, which ones are Africans abroad actually using?

We analyzed the most popular remittance corridors from Canada and the UK, two of the largest African diaspora markets, to identify the apps that combine competitive pricing, reliable service, and genuine value for users.

Our Selection Methodology

We evaluated remittance apps based on five key factors:

Market Presence: We focused on platforms with proven track records in Canada and the UK, where competition is fierce and users have high expectations for service quality.

Exchange Rate Competitiveness: We compared live rates across multiple platforms for common transfer amounts ($500) to Nigeria, Ghana, and Kenya.

Transaction Volume & User Base: We assessed each platform’s scale by examining publicly available user numbers, transaction volumes, and app download statistics.

Business Model Sustainability: We looked at which platforms have demonstrated sustainable growth models. Apps that grow organically often maintain competitive pricing longer because they’re not burning through venture capital to subsidize unsustainable rates.

Speed and Reliability: We evaluated typical settlement times and examined user reviews for patterns of delays or failed transactions.

The Apps Africans Are Actually Using

1. Africhange: Best for Competitive Rates

Africhange has built a reputation for consistently offering some of the most competitive exchange rates in the Canada-UK-Nigeria corridor. The platform serves over 300,000 users and has processed more than about 3million transactions since launching in Canada in 2020.

The platform holds licenses from FINTRAC in Canada, the FCA in the UK (launched July 2024), and the Central Bank of Nigeria.

AfriChange operates across multiple corridors and supports transfers from Canada, UK, Australia, and Nigeria. The platform also offers zero transfer fees, with costs built into transparent exchange rate margins.

Transfers typically settle within 10-30 minutes to Nigerian bank accounts. The app includes multi-currency wallets and a loyalty program (Afripoints) where users earn cash rewards on transactions. In the UK, AfriChange offers true bank accounts that allow users to hold and spend money..

Best for: Users in Canada and UK sending to Nigeria, Ghana, or Kenya who prioritize getting the maximum naira, cedis, or shillings for their dollars or pounds. Nigerians who look to recieve money in USD, Nigerians who looks to send money from Nigeria to anywhere in the world.

2. LemFi: Fastest Growing Platform

LemFi has become a household name in diaspora remittance circles, serving over 1 million active users and processing $1 billion in monthly transaction volume as of January 2025. The platform raised $85 million in funding, with a $53 million Series B round that valued the company at $725 million.

The app operates from Canada, UK, US, and Europe, sending to 30+ countries across Africa, Asia, and Latin America. LemFi offers zero fees for most African destinations, including Nigeria, Ghana, and Kenya. The platform earns revenue through foreign exchange spreads, typically adding a small margin above mid-market rates.

LemFi’s multi-currency wallet lets users hold funds in GBP, CAD, USD, and EUR. Most transfers complete within minutes. The platform is regulated by the FCA in the UK, FINTRAC in Canada, and FinCEN in the US.

Best for: Users who need to send money to multiple countries or want a feature-rich app with strong brand recognition.

3. TapTap Send: Most Popular

With over 10 million downloads on Google Play alone, TapTap Send has massive reach. The company raised $97 million in funding, including a $65 million Series B in 2021.

TapTap Send charges zero fees for transfers from the UK, Canada, and EU to most African destinations. The platform supports transfers to nearly 50 countries, with particularly strong coverage in Africa, Latin America, Asia, and the Caribbean.

Most transfers complete within minutes to mobile money wallets. The company pools customer transfers to negotiate better exchange rates with partners. However, some users note that the exchange rate spread can be wider than mid-market rates, meaning the “zero fee” model still has costs built in.

TapTap Send operates as a licensed money transmitter in multiple jurisdictions, including authorization from the FCA in the UK and FINTRAC in Canada. The platform accepts debit cards but not credit cards, corporate cards, or prepaid cards.

Best for: Users who prefer a simple, straightforward app and send money to less common destinations beyond major African markets.

4. NALA: Best for Mobile Money (East Africa)

NALA has carved out a strong position in East African remittances, serving over 500,000 users. The platform raised $50 million in total funding ($40 million Series A) and reached profitability with 10x revenue growth.

NALA specializes in instant mobile money transfers, with 95% of transactions completing in seconds to major mobile money providers in Kenya, Tanzania, Uganda, and Rwanda. The platform recently expanded to Nigeria, Senegal, Cameroon, Côte d’Ivoire, and select Asian markets including India, Pakistan, and the Philippines.

Mobile money transfers have zero fees. Bank transfers incur fees that vary by country. NALA earns revenue through exchange rate markups, typically competitive but not always the absolute lowest in the market.

The platform is licensed in the US and operates as an agent under FCA-regulated Mouldr FS Ltd in the UK, and is regulated by De Nederlandsche Bank in the Netherlands. NALA was named to the Forbes Fintech 50 list in 2025.

NALA pioneered internet-free transfers using USSD technology, addressing connectivity challenges in some African regions. The app includes a referral program and repeat transfer functionality.

Best for: Users sending to East Africa who want instant mobile money delivery without fees.

5. Wise: Most Established Platform

Wise (formerly TransferWise) is the industry giant, with 10+ million downloads and over $100 billion processed in 2023. The publicly traded company (valued at $11 billion at IPO) operates in 50+ countries.

Wise uses the mid-market exchange rate—the fairest rate with no markup—and charges transparent conversion fees ranging from 0.35% to 3% depending on the currency corridor. For African currencies, fees typically run 1-1.5% for major corridors like GBP/CAD to NGN, KES, or GHS.

Transfers to Africa can take anywhere from minutes to several days depending on the corridor and payment method. Bank transfers (ACH) are cheaper than card payments. Wise offers bank-level encryption, 2-factor authentication, and is regulated by the FCA in the UK and FinCEN in the US.

While Wise doesn’t always have the absolute best rates for African corridors, the platform’s transparency and reliability make it a trusted choice for users handling larger amounts or who value the multi-currency account features.

Best for: Users who want absolute transparency, multi-currency accounts, or are sending to multiple global destinations beyond Africa.

6. WorldRemit: Best for Cash Pickup

WorldRemit serves 8+ million customers worldwide with 144 payout partners across 130+ countries. The platform offers four payout methods: bank transfer, mobile money, cash pickup, and home delivery.

Transfer fees range from $0.99 to $3.99 depending on the amount, destination, and payout method. WorldRemit adds a 0.5-2.5% markup to exchange rates. The company is regulated by the FCA in the UK and licensed in all markets where it operates.

WorldRemit’s extensive cash pickup network makes it valuable for sending money to recipients without bank accounts or mobile money access.

Most mobile money and cash pickup transfers complete within minutes. Bank transfers can take up to 4 business days.

The platform supports airtime top-ups, allowing users to add credit to recipients’ mobile phones. Customer service receives consistent praise, with phone support available in multiple regions.

Best for: Sending money to recipients in rural areas or those who need cash pickup options.

The remittance industry has come a long way from the days of Western Union monopolies and 10% fees. Competition has driven prices down and service quality up.

The winners are the millions of families receiving more money because diaspora members have better options.

The post Top Remittance Apps Africans Abroad Are Using in 2025 appeared first on Tech | Business | Economy.

The company has partnered with Griffin, a UK-licensed bank, to launch GBP bank accounts for customers in the UK, while also being officially recognised by the Bank of Canada as one of the country’s first registered Payment Service Providers (PSPs).

Introducing UK Bank Accounts for Africans

Africhange’s partnership with Griffin tackles a problem that’s plagued African immigrants in the UK for years: getting access to proper banking services.

From today, Africhange users can open GBP bank accounts with their own unique sort codes and account numbers.

These aren’t the usual virtual accounts that simply pass transactions along. They’re dedicated bank accounts with full banking functionality. 

Users can receive direct deposits, hold GBP balances securely, and transfer money through the faster payments network. The accounts come with FSCS protection on eligible deposits and linked savings options.

“At Africhange, we don’t just understand the immigrant journey, we’ve lived it,” said David Ajala, CEO of Africhange. “We’re moving beyond remittances to become a true financial partner, giving our community a trusted place to hold their balance, manage their UK finances, and earn Afripoints, all from one platform.”

David Jarvis, CEO of Griffin, echoed the sentiment.

“Too many immigrants face unnecessary friction in accessing basic bank accounts. We’re proud to be working with Africhange in helping people access the basic financial tools they need to live and work in the UK.”

In 2026, the company plans to launch a “Send Now, Pay Later” feature that lets users send money instantly and settle the payment later.

There’s also a debit card in the works that will give users seamless access to spending and withdrawals across the UK and beyond.

Bank of Canada adds Africhange to it’s first Payment Service Provider registry

Back in Canada, Africhange has earned a spot among the first 300 entities to achieve full registration under the country’s Retail Payment Activities Act.

The Bank of Canada published its inaugural Payment Service Provider Registry on 21 October 2025, and Africhange made the cut.

Africhange went through a rigorous evaluation that included national security screening coordinated by the Department of Finance, implementing robust operational risk management frameworks, and establishing strict protocols for safeguarding customer funds.

“This registration validates our unwavering commitment to regulatory compliance, operational excellence, and the highest standards of consumer protection,” said Ajala. “This achievement strengthens the trust our customers place in us every day.”

The registration puts Africhange under direct Bank of Canada supervision. The company has been registered with FINTRAC since 2019 as a Money Services Business, but the new PSP status marks a major upgrade in regulatory oversight.

Tega Gabriel, Head of Growth at Africhange, said the recognition highlights how regulation and innovation can work hand in hand.

“We’re proud to be part of this new regulatory framework that will foster innovation while protecting consumers. This is not just a milestone for Africhange; it’s a win for all Canadians who rely on modern payment solutions,” he said.

The post Africhange Launches UK Bank Accounts, Achieves Bank of Canada Registration appeared first on Tech | Business | Economy.

This strategic move significantly improves Africhange’s ability to facilitate inward remittances for immigrants and diaspora communities sending money to Nigeria.

Nigeria remains one of the largest recipients of remittances in Sub-Saharan Africa. According to the World Bank’s Migration and Development Brief, in 2023 alone, remittance to Nigeria accounted for 38% of the region’s $54 billion total.

For many Nigerian individuals, these funds are essential for education, healthcare, and daily living, making accessible and cost-effective remittance solutions vital.

With the IMTO licence, Africhange is positioned to deliver a trusted service that improves access to much-needed financial support across borders.

Founded in 2020, Africhange has achieved impressive growth as a fully bootstrapped company, serving over 200,000 users globally and facilitating more than 2 million successful transactions. Operating in over 100 countries—including Canada, Nigeria, the United Kingdom, and Australia—Africhange offers an extensive range of currencies and services that simplify international money transfers.

By leveraging advanced technology, the platform minimizes the cost and complexity of cross-border transactions, enhancing the immigrant experience and supporting communities, especially those of African descent.

After four years of deep market understanding, maximizing unit economics, and reaching cash flow positivity, Africhange is now poised to raise funds in the coming year to fuel rapid expansion and bring its impactful solutions to even more users worldwide.

The new IMTO licence allows Africhange to manage inward remittances directly into Nigeria without relying on intermediaries. By removing third-party involvement, this capability enables partnerships with local banks, streamlining payment processes and lowering costs for customers.

Furthermore, the company can offer better rates and faster services for Africans living on the continent and abroad. Africhange is dedicated to maintaining the highest compliance standards with regulatory requirements across all markets, ensuring that customer transactions are secure and transparent.

David Ajala, CEO of Africhange, stated:

“As an immigrant-founded company, we understand first-hand that sending and receiving money across borders is a key part of daily life for our users, who are immigrants of African descent. Securing the IMTO licence allows us to offer a faster, more affordable way for people to support their loved ones back home. For Africhange, it means we’re stepping into a new era where we can empower both individuals and businesses to make seamless, direct transactions in Nigeria. We’re excited about the doors this opens to bring greater impact to the lives of the communities we serve.”

With a strong track record of success, Africhange has established partnerships with three Nigerian banks and is actively seeking to expand these relationships.

It also has a reliable settlement partner in Nigeria, ensuring secure processing for local transactions. Building on this partnership alongside the IMTO licence.

Tega Gabriel, head of Growth of Africhange, added:

“This IMTO licence acquired from the CBN brings incredible opportunities to form direct partnerships with Nigerian banks and other international money transfer operators. Connecting directly with local partners lets us speed up transactions and improve the remittance experience for our users sending money to Nigeria. As we scale, these partnerships will strengthen our reach across Nigeria and beyond, bringing us closer to our vision of accessible financial services for the global diaspora.”

The licence acquisition follows Africhange’s recent expansion to the UK and builds on the licences already acquired in its Canadian and UK markets, intending to strengthen its service offerings.

Looking ahead, the money transfer platform is preparing to launch operations in the US and EU markets, further scaling its footprint in the remittance sector and reinforcing its position as a leader in cross-border financial services.

The post With IMTO Licence Africhange aims to Streamline Remittance to Nigeria appeared first on Tech | Business | Economy.