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UAE exchange rebrand its Africa operations

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UAE exchange rebrand its Africa operations
REBRANDING: Unimoni Regional Head Africa Allen Semboze and CEO Promoth Manghat briefing the media

The global provider of money transfer, foreign exchange and payments solutions UAE Exchange has rebranded its Africa operations to Unimoni.

The launch of Unimoni was done in Nairobi, Kenya recently in a press briefing attended by business journalists from across the African continent.

Short for Universal Money, Unimoni reflects the company’s aspiration to strengthen its global presence and provide a broader spectrum of innovative financial services to their customers.

Addressing the media, Group Executive Director, Promoth Manghat said Unimoni facilitates the seamless movement of money across geographies, currencies and channels with a focus on delivering convenience, speed and value to its customers.

He said as part of its Africa growth strategy, Unimoni plans to be present in 14 African Markets by the year 2020.

Unimoni will soon be officially launched in Botswana, Rwanda, Seychelles, Tanzania, Uganda and Zambia.

“As a group we have earmarked USD 100 million in investments to support our growth and expansion efforts in Africa over the next decade. We have developed a healthy pipeline of digital payment solutions designed to carter to the specific needs of the African customers. Africa has the fastest growing economy and holds tremendous potential, which is a critical component of our growth strategy as a group. We will facilitate seamless and connected experiences for our customers and pave the way towards sustainable development and inclusive growth of the various Africa markets,” said Manghat

The CEO said they will continue to invest in enhancing the breadth of their reach and depth of their operations in the African continent.

Manghat further noted that Unimoni is also making aggressive investments in customer focused technology innovations as well as collaborating with ecosystem partners to provide an enhanced service proposition to its customer base.

Unimoni Regional Head, Allen Semboze said the coming years will be very busy for them as they set out to achieve their ambitious growth strategy.

He said they are in advanced discussions with various ecosystem partners, including mobile network operators and aggregators to develop new money transfer solutions.

Semboze also noted that they were working on developing their digital capabilities including an online remittance platform with white label solution for their corporate customers and online forex solution.