Fintech moves to Dubai

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Innovate 1 Pay, an African payment gateway brand, on Sunday announced  expansion of its operations and provision of financial technology services to African expatriates in Dubai.

Mr Mahmood Ahmadu, Chairman Innovate 1 Pay, said in Lagos that the company would consolidate cooperation and integration between Dubai and several African countries as well as tap into the market to address needs.

Ahmadu gave the assurance in a statement in Lagos.

He said  that the move would enhance ease of doing business between the United Arab Emirates  (UAE) and Nigeria  and ultimately drive business growth.

“Africa is set to 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.

“With the maturing of financial markets in Africa, we have expanded our presence to a total of 56 countries, 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 said.

Ahmadu said that the next generation of financial services would need to reflect customer expectations around secure and quick transfer of funds.

“Our relationship with government bodies and comprehensive presence in  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,” he said.

The company’s Chief Executive Officer, Mr Anthony Nwachukwu,  said  that the time for a concerted effort to extend financial inclusion in Africa had come.

“Africa is currently the second fastest growing continent, after Asia, and we are looking at an average GDP growth of five per cent across the continent that has lasted a decade,” Nwachukwu said.

On the potential of Africa’s population, he said that Innovative 1 Pay was working toward  larger social goal of boosting financial inclusion on the continent.

“Africa is home to 40 per cent of people in the world who lacks 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, and ensuring a more equitable wealth distribution and a universally prosperous world,” Nwachukwu said.

Innovate 1 Pay is one of Africa’s leading providers of payment services, international money transfer and foreign exchange services.

It can address the needs of either individuals or organisations through a diverse portfolio of solutions.

Headquartered in Abuja, and with a global operations office in Dubai, Innovate 1 Pay is Nigeria’s largest provider of payment services.